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

Shares of Equinix, Inc. (NASDAQ:EQIX) have been given an average recommendation of “Buy” by the twenty-eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and six have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $1,004.80.

Several research firms have weighed in on EQIX. Cowen restated a “buy” rating on shares of Equinix in a report on Thursday, May 1st. Truist Financial dropped their target price on shares of Equinix from $990.00 to $986.00 and set a “buy” rating for the company in a report on Monday, May 12th. JMP Securities restated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a report on Friday, May 23rd. Barclays raised their target price on shares of Equinix from $834.00 to $837.00 and gave the company an “equal weight” rating in a report on Tuesday, May 27th. Finally, Wolfe Research downgraded shares of Equinix from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director now directly owns 17,569 shares of the company’s stock, valued at $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the transaction, the chief executive officer now directly owns 9,615 shares in the company, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BROOKFIELD Corp ON lifted its position in Equinix by 2.7% during the first quarter. BROOKFIELD Corp ON now owns 73,197 shares of the financial services provider’s stock valued at $59,681,000 after buying an additional 1,942 shares in the last quarter. Nicola Wealth Management LTD. lifted its position in shares of Equinix by 10.4% during the first quarter. Nicola Wealth Management LTD. now owns 3,931 shares of the financial services provider’s stock worth $3,205,000 after purchasing an additional 370 shares in the last quarter. First Hawaiian Bank lifted its position in shares of Equinix by 34.2% during the first quarter. First Hawaiian Bank now owns 663 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 169 shares in the last quarter. Strs Ohio acquired a new position in shares of Equinix during the first quarter worth $105,409,000. Finally, Foresight Group Ltd Liability Partnership lifted its position in shares of Equinix by 3.2% during the first quarter. Foresight Group Ltd Liability Partnership now owns 21,701 shares of the financial services provider’s stock worth $17,473,000 after purchasing an additional 665 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Down 0.2%

Shares of NASDAQ EQIX opened at $886.76 on Wednesday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix has a 52 week low of $701.41 and a 52 week high of $994.03. The firm has a 50-day moving average price of $856.61 and a 200 day moving average price of $887.14. The stock has a market capitalization of $86.74 billion, a price-to-earnings ratio of 92.18, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter last year, the business earned $8.86 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Equinix will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.12%. Equinix’s payout ratio is 195.01%.

About Equinix

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.