Equinix, Inc. (NASDAQ:EQIX) Given Average Recommendation of “Moderate Buy” by Analysts

Equinix, Inc. (NASDAQ:EQIX) has earned an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $959.6364.

A number of brokerages recently issued reports on EQIX. Wall Street Zen lowered Equinix from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Daiwa Capital Markets set a $917.00 price target on Equinix and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. BMO Capital Markets raised Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price target on the stock in a research report on Wednesday, December 3rd. Finally, Barclays restated a “positive” rating and issued a $870.00 price objective on shares of Equinix in a research note on Tuesday, January 13th.

Insider Activity at Equinix

In other news, insider Michael Shane Paladin sold 327 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.36, for a total transaction of $263,025.72. Following the transaction, the insider owned 952 shares in the company, valued at approximately $765,750.72. This trade represents a 25.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles J. Meyers sold 2,094 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $804.14, for a total value of $1,683,869.16. Following the transaction, the chairman owned 13,253 shares in the company, valued at $10,657,267.42. The trade was a 13.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 19,590 shares of company stock valued at $15,366,046. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Hedge funds have recently bought and sold shares of the company. Westside Investment Management Inc. increased its stake in Equinix by 190.9% in the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 21 shares during the last quarter. Ameriflex Group Inc. boosted its stake in shares of Equinix by 433.3% in the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 26 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in Equinix during the 2nd quarter worth approximately $26,000. Bank of Jackson Hole Trust increased its holdings in shares of Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after buying an additional 14 shares in the last quarter. Finally, Abound Wealth Management increased its holdings in Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 23 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Stock Performance

Shares of EQIX stock opened at $816.15 on Thursday. The company has a market capitalization of $80.14 billion, a P/E ratio of 74.74, a price-to-earnings-growth ratio of 1.27 and a beta of 1.05. Equinix has a 52 week low of $701.41 and a 52 week high of $953.41. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. The company’s 50 day moving average price is $767.05 and its two-hundred day moving average price is $783.97.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, beating the consensus estimate of $9.27 by $0.56. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.05 EPS. On average, analysts expect that Equinix will post 33.1 earnings per share for the current fiscal year.

About Equinix

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.