Equinix (NASDAQ:EQIX) Coverage Initiated by Analysts at Guggenheim

Guggenheim initiated coverage on shares of Equinix (NASDAQ:EQIX) in a report issued on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $933.00 price objective on the financial services provider’s stock.

Several other equities research analysts also recently commented on the stock. Citigroup lifted their price objective on shares of Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Scotiabank decreased their target price on shares of Equinix from $1,030.00 to $965.00 and set a “sector outperform” rating for the company in a research report on Thursday, June 26th. Wells Fargo & Company decreased their target price on shares of Equinix from $1,065.00 to $925.00 and set an “overweight” rating for the company in a research report on Thursday, June 26th. Cfra Research downgraded shares of Equinix from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, June 26th. Finally, TD Securities boosted their target price on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $957.05.

Equinix Price Performance

NASDAQ EQIX opened at $756.70 on Thursday. The firm’s fifty day simple moving average is $856.50 and its two-hundred day simple moving average is $868.83. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix has a 12-month low of $701.41 and a 12-month high of $994.03. The firm has a market capitalization of $74.02 billion, a P/E ratio of 78.66, a P/E/G ratio of 1.28 and a beta of 0.93.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the firm posted $8.86 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts forecast that Equinix will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were given a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.48%. Equinix’s payout ratio is currently 195.01%.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director owned 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the transaction, the insider directly owned 1,842 shares of the company’s stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,176 shares of company stock valued at $2,808,008. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arthur M. Cohen & Associates LLC raised its holdings in shares of Equinix by 7.4% in the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 3,292 shares of the financial services provider’s stock valued at $2,618,000 after purchasing an additional 226 shares in the last quarter. BTC Capital Management Inc. raised its holdings in shares of Equinix by 4.6% in the 2nd quarter. BTC Capital Management Inc. now owns 896 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 39 shares in the last quarter. CX Institutional raised its holdings in shares of Equinix by 6.4% in the 2nd quarter. CX Institutional now owns 385 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 23 shares in the last quarter. Weatherly Asset Management L. P. raised its stake in Equinix by 0.6% during the 2nd quarter. Weatherly Asset Management L. P. now owns 5,077 shares of the financial services provider’s stock worth $4,039,000 after acquiring an additional 32 shares in the last quarter. Finally, Global X Japan Co. Ltd. raised its stake in Equinix by 25.3% during the 2nd quarter. Global X Japan Co. Ltd. now owns 277 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other 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.