Equinix (NASDAQ:EQIX) Cut to “Sell” at Wall Street Zen

Equinix (NASDAQ:EQIX) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Other equities analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft set a $915.00 target price on Equinix in a research note on Tuesday. Cowen reissued a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. Zacks Research lowered Equinix from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Equinix in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group downgraded shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price target on the stock. in a report on Thursday, December 18th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $952.05.

Equinix Stock Performance

NASDAQ EQIX opened at $800.35 on Friday. The company has a fifty day moving average price of $769.03 and a 200-day moving average price of $783.12. The firm has a market cap of $78.59 billion, a price-to-earnings ratio of 73.29, a PEG ratio of 1.22 and a beta of 1.05. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. Equinix has a 1 year low of $701.41 and a 1 year high of $953.41.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, beating analysts’ consensus estimates of $9.27 by $0.56. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the firm earned $9.05 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, equities research analysts predict that Equinix will post 33.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 5,087 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $778.47, for a total transaction of $3,960,076.89. Following the sale, the chairman owned 10,426 shares of the company’s stock, valued at $8,116,328.22. The trade was a 32.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan Lin sold 124 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $731.18, for a total value of $90,666.32. Following the sale, the insider owned 8,299 shares in the company, valued at approximately $6,068,062.82. This represents a 1.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,704 shares of company stock worth $6,617,748 in the last three months. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Equinix by 1.2% during the third quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock valued at $10,410,575,000 after acquiring an additional 162,638 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in Equinix by 298,148.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock valued at $6,488,728,000 after purchasing an additional 8,154,365 shares during the period. State Street Corp grew its position in shares of Equinix by 3.7% during the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after purchasing an additional 220,981 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after purchasing an additional 588,967 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Equinix by 3.0% in the third quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock worth $1,542,595,000 after purchasing an additional 56,592 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.