Equinix (NASDAQ:EQIX) Price Target Raised to $1,235.00 at Guggenheim
by Amy Steele · The Cerbat GemEquinix (NASDAQ:EQIX – Get Free Report) had its target price hoisted by stock analysts at Guggenheim from $985.00 to $1,235.00 in a research note issued to investors on Monday, MarketBeat.com reports. The firm currently has a “buy” rating on the financial services provider’s stock. Guggenheim’s price objective suggests a potential upside of 11.39% from the company’s current price.
Several other research analysts also recently commented on the company. Cantor Fitzgerald started coverage on Equinix in a report on Thursday, April 9th. They set an “overweight” rating and a $1,173.00 target price on the stock. Stifel Nicolaus set a $1,075.00 price objective on Equinix in a research note on Thursday, February 12th. TD Cowen reiterated a “buy” rating on shares of Equinix in a report on Thursday, February 12th. HSBC reissued a “buy” rating and set a $1,250.00 target price on shares of Equinix in a research report on Monday. Finally, Truist Financial restated a “buy” rating and issued a $1,127.00 price target (up from $1,087.00) on shares of Equinix in a research report on Tuesday, March 31st. Five analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,075.91.
View Our Latest Stock Analysis on Equinix
Equinix Trading Down 0.0%
Shares of Equinix stock opened at $1,108.74 on Monday. Equinix has a 52-week low of $710.52 and a 52-week high of $1,128.68. The stock has a market cap of $109.34 billion, a PE ratio of 80.64, a PEG ratio of 2.82 and a beta of 1.01. The firm has a 50-day moving average of $993.19 and a 200-day moving average of $863.91. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32.
Equinix (NASDAQ:EQIX – Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the firm earned $7.92 EPS. Equinix’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Equinix will post 37.72 EPS for the current year.
Insider Activity
In related news, EVP Raouf Abdel sold 584 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $965.69, for a total transaction of $563,962.96. Following the completion of the sale, the executive vice president owned 7,768 shares in the company, valued at approximately $7,501,479.92. This represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 1,086 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $966.20, for a total transaction of $1,049,293.20. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 6,380 shares of company stock worth $6,179,022. Company insiders own 0.27% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in EQIX. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Equinix by 1.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock worth $426,444,000 after buying an additional 7,409 shares during the period. Douglas Lane & Associates LLC lifted its position in Equinix by 3.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider’s stock valued at $85,833,000 after buying an additional 4,241 shares during the period. JPMorgan Chase & Co. boosted its stake in Equinix by 25.8% during the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after acquiring an additional 588,967 shares in the last quarter. Chilton Capital Management LLC grew its holdings in Equinix by 5.1% in the third quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider’s stock worth $28,908,000 after purchasing an additional 1,805 shares during the period. Finally, Foresight Group Ltd Liability Partnership increased its stake in shares of Equinix by 10.0% during the third quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider’s stock valued at $20,425,000 after purchasing an additional 2,378 shares in the last quarter. 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.