TD Cowen Issues Positive Forecast for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX) had its price target hoisted by equities researchers at TD Cowen from $865.00 to $984.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price would indicate a potential upside of 7.36% from the stock’s current price.

Several other equities research analysts have also commented on EQIX. Truist Financial upped their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Mizuho upped their price objective on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. BMO Capital Markets upped their target price on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Evercore ISI upped their target price on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $941.93.

Equinix Stock Performance

NASDAQ EQIX traded up $6.32 during trading hours on Thursday, reaching $916.54. The stock had a trading volume of 403,890 shares, compared to its average volume of 528,048. The stock has a fifty day moving average of $866.57 and a 200 day moving average of $804.08. The stock has a market cap of $86.99 billion, a P/E ratio of 92.36, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. Equinix has a 52-week low of $684.14 and a 52-week high of $943.02. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company earned $8.04 EPS. Equinix’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts predict that Equinix will post 31.01 earnings per share for the current year.

Insider Activity at Equinix

In related news, insider Meredith Williamson sold 576 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Meredith Williamson sold 576 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares of the company’s stock, valued at approximately $3,262.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,906 shares of company stock valued at $9,071,764. 0.27% of the stock is owned by insiders.

Institutional Trading of Equinix

Several large investors have recently added to or reduced their stakes in EQIX. Pathway Financial Advisers LLC grew its holdings in Equinix by 89,348.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after buying an additional 398,494 shares in the last quarter. Swedbank AB purchased a new position in shares of Equinix during the 1st quarter worth $294,526,000. Principal Financial Group Inc. grew its holdings in shares of Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares during the period. Vanguard Group Inc. grew its holdings in shares of Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares during the period. Finally, M&G Plc purchased a new position in shares of Equinix during the 1st quarter worth $187,089,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.