BMO Capital Markets Issues Positive Forecast for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX) had its price target increased by BMO Capital Markets from $975.00 to $1,020.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the company. TD Cowen raised their price target on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their price target on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Mizuho boosted their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

Equinix Trading Down 2.2 %

Equinix stock opened at $888.30 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.22 and a current ratio of 1.16. Equinix has a 52 week low of $684.14 and a 52 week high of $943.02. The stock has a 50-day simple moving average of $869.56 and a 200 day simple moving average of $806.75. The stock has a market capitalization of $85.71 billion, a P/E ratio of 80.10, a PEG ratio of 2.18 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last announced its quarterly 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). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.29% and a return on equity of 8.34%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $8.04 EPS. Analysts expect that Equinix will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

Insider Activity at Equinix

In other news, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the transaction, the insider now directly owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction on Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the sale, the insider now owns 8,231 shares in the company, valued at $7,531,365. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,906 shares of company stock worth $9,071,764 over the last quarter. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Several hedge funds and other institutional investors have recently modified their holdings of EQIX. Norden Group LLC acquired a new stake in Equinix in the 1st quarter valued at $3,087,000. Private Advisor Group LLC grew its holdings in shares of Equinix by 5.6% during the first quarter. Private Advisor Group LLC now owns 931 shares of the financial services provider’s stock valued at $769,000 after buying an additional 49 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Equinix by 15.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,530 shares of the financial services provider’s stock worth $29,324,000 after acquiring an additional 4,664 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Equinix by 4.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider’s stock worth $8,102,000 after acquiring an additional 414 shares during the last quarter. Finally, PDS Planning Inc lifted its position in Equinix by 3.8% in the 1st quarter. PDS Planning Inc now owns 521 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Company Profile

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.