Equinix (NASDAQ:EQIX) Given New $1,020.00 Price Target at Barclays
by Tristan Rich · The Markets DailyEquinix (NASDAQ:EQIX – Get Free Report) had its price target hoisted by investment analysts at Barclays from $870.00 to $1,020.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential upside of 4.41% from the company’s current price.
Several other analysts have also recently issued reports on EQIX. Deutsche Bank Aktiengesellschaft set a $915.00 price target on shares of Equinix in a research report on Tuesday, January 6th. 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 note on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 target price on shares of Equinix in a report on Thursday, February 12th. Truist Financial raised their price target on shares of Equinix from $973.00 to $1,087.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Finally, Guggenheim boosted their price target on shares of Equinix from $933.00 to $985.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,013.43.
Read Our Latest Stock Analysis on Equinix
Equinix Stock Performance
Shares of EQIX stock opened at $976.88 on Wednesday. The firm’s 50 day moving average price is $879.80 and its 200-day moving average price is $816.78. 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 has a one year low of $701.41 and a one year high of $992.90. The firm has a market cap of $95.98 billion, a P/E ratio of 71.05, a P/E/G ratio of 2.53 and a beta of 1.04.
Equinix (NASDAQ:EQIX – Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.92 earnings per share. As a group, equities research analysts predict that Equinix will post 33.1 EPS for the current year.
Insider Activity
In related news, CEO Adaire Fox-Martin sold 2,670 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.08, for a total transaction of $2,146,893.60. Following the completion of the sale, the chief executive officer owned 14,857 shares in the company, valued at $11,946,216.56. The trade was a 15.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raouf Abdel sold 927 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $801.78, for a total value of $743,250.06. Following the completion of the transaction, the executive vice president directly owned 7,337 shares of the company’s stock, valued at $5,882,659.86. This trade represents a 11.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 16,842 shares of company stock valued at $14,494,840. Insiders own 0.27% of the company’s stock.
Institutional Trading of Equinix
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriflex Group Inc. lifted its position in shares of Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 26 shares during the last quarter. Abound Wealth Management raised its stake in Equinix by 209.1% during the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 23 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Equinix during the 2nd quarter worth $28,000. Kemnay Advisory Services Inc. purchased a new stake in Equinix in the fourth quarter valued at $30,000. Finally, Princeton Global Asset Management LLC lifted its position in Equinix by 200.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds 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.