Equinix’s (EQIX) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Equinix (NASDAQ:EQIX) in a research report report published on Thursday morning,Benzinga reports. JMP Securities currently has a $1,200.00 target price on the financial services provider’s stock.

A number of other analysts have also issued reports on EQIX. Citigroup lowered their price target on Equinix from $1,020.00 to $970.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Wolfe Research raised shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 target price for the company in a report on Thursday, March 27th. Truist Financial decreased their price target on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. TD Securities upped their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Cfra Research raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Equinix has an average rating of “Buy” and an average target price of $1,004.05.

Equinix Stock Performance

Shares of EQIX stock opened at $875.85 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $85.67 billion, a P/E ratio of 102.44, a P/E/G ratio of 1.78 and a beta of 0.95. The business’s 50 day moving average is $828.81 and its two-hundred day moving average is $894.65. Equinix has a 12-month low of $684.14 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results 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. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.86 EPS. Analysts expect that Equinix will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

Insider Buying and Selling at Equinix

In related news, Chairman Charles J. Meyers sold 3,562 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the completion of the transaction, the chairman now directly owns 15,513 shares in the company, valued at $14,412,197.52. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,040 shares of company stock worth $6,547,068 over the last three months. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Equinix in the 4th quarter valued at approximately $1,067,270,000. GAMMA Investing LLC raised its stake in shares of Equinix by 82,340.9% in the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider’s stock valued at $725,957,000 after acquiring an additional 889,282 shares in the last quarter. Northern Trust Corp boosted its holdings in Equinix by 65.3% in the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock valued at $1,399,042,000 after purchasing an additional 586,034 shares during the period. Wellington Management Group LLP boosted its holdings in Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after purchasing an additional 401,991 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Equinix during the 4th quarter worth $328,899,000. Institutional investors and hedge funds 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.