Wall Street Zen Upgrades Equinix (NASDAQ:EQIX) to Hold

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

A number of other equities analysts have also issued reports on the stock. Jefferies Financial Group upped their target price on shares of Equinix from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. TD Cowen reissued a “buy” rating on shares of Equinix in a report on Thursday, February 12th. Morgan Stanley restated an “overweight” rating and issued a $1,075.00 price objective on shares of Equinix in a research report on Friday, February 13th. Wells Fargo & Company upped their price objective on Equinix from $925.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on Equinix from $950.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,015.05.

Equinix Stock Performance

Equinix stock opened at $963.00 on Friday. The stock has a 50-day simple moving average of $907.50 and a 200 day simple moving average of $826.99. The stock has a market capitalization of $94.61 billion, a price-to-earnings ratio of 70.04, a P/E/G ratio of 2.48 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix has a 12-month low of $701.41 and a 12-month high of $992.90.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 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%.The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $7.92 EPS. On average, research analysts anticipate that Equinix will post 33.1 earnings per share for the current fiscal year.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 630 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $961.19, for a total value of $605,549.70. Following the transaction, the insider directly owned 10,394 shares of the company’s stock, valued at approximately $9,990,608.86. This trade represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Lin sold 635 shares of Equinix stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $965.71, for a total transaction of $613,225.85. Following the sale, the insider directly owned 10,788 shares of the company’s stock, valued at $10,418,079.48. This represents a 5.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,842 shares of company stock worth $14,494,840 over the last 90 days. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after buying an additional 73 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Equinix by 11.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 54 shares during the last quarter. Empowered Funds LLC raised its position in shares of Equinix by 21.8% in the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock valued at $2,487,000 after acquiring an additional 546 shares during the period. Schnieders Capital Management LLC. acquired a new stake in shares of Equinix in the 2nd quarter valued at approximately $231,000. Finally, Global Retirement Partners LLC bought a new position in Equinix during the 2nd quarter worth approximately $716,000. 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.