Equinix (NASDAQ:EQIX) Stock Price Expected to Rise, Barclays Analyst Says

Equinix (NASDAQ:EQIX) had its target price boosted by investment analysts at Barclays from $870.00 to $1,020.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would indicate a potential upside of 4.64% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Guggenheim upped their price target on Equinix from $933.00 to $985.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Jefferies Financial Group raised their price objective on Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. BMO Capital Markets boosted their price objective on Equinix from $925.00 to $1,050.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. upped their target price on Equinix from $950.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft set a $915.00 price target on shares of Equinix in a research report on Tuesday, January 6th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold 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 $1,013.43.

Equinix Trading Up 0.1%

EQIX opened at $974.76 on Wednesday. Equinix has a 1-year low of $701.41 and a 1-year high of $992.90. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. The company has a market cap of $95.78 billion, a P/E ratio of 70.89, a price-to-earnings-growth ratio of 2.50 and a beta of 1.04. The company has a fifty day moving average price of $887.60 and a two-hundred day moving average price of $818.97.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.Equinix’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $7.92 EPS. Analysts predict that Equinix will post 33.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Raouf Abdel sold 584 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $965.69, for a total value of $563,962.96. Following the completion of the transaction, the executive vice president directly owned 7,768 shares of the company’s stock, valued at $7,501,479.92. This represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Adaire Fox-Martin sold 1,086 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $966.20, for a total value of $1,049,293.20. Following the sale, the chief executive officer directly owned 19,574 shares of the company’s stock, valued at $18,912,398.80. The trade was a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,842 shares of company stock worth $14,494,840 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stance Capital LLC bought a new stake in shares of Equinix during the 4th quarter worth $1,415,000. Rockefeller Capital Management L.P. grew its position in Equinix by 37.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 112,474 shares of the financial services provider’s stock valued at $86,174,000 after buying an additional 30,572 shares during the period. World Investment Advisors grew its position in Equinix by 31.8% during the fourth quarter. World Investment Advisors now owns 842 shares of the financial services provider’s stock valued at $645,000 after buying an additional 203 shares during the period. Corient Private Wealth LLC increased its holdings in Equinix by 27.5% during the fourth quarter. Corient Private Wealth LLC now owns 9,205 shares of the financial services provider’s stock worth $7,053,000 after buying an additional 1,987 shares during the last quarter. Finally, Union Savings Bank bought a new stake in Equinix in the fourth quarter worth about $71,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.