Equinix Inc (NASDAQ:EQIX) has been given an average rating of “Buy” by the twenty-three ratings firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $791.40.
Several analysts recently commented on EQIX shares. Credit Suisse Group raised their price objective on shares of Equinix from $704.00 to $782.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. TD Securities started coverage on shares of Equinix in a research report on Thursday, August 6th. They set a “hold” rating and a $800.00 target price for the company. Royal Bank of Canada lifted their target price on shares of Equinix from $706.00 to $845.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. They noted that the move was a valuation call. Citigroup lifted their target price on shares of Equinix from $754.00 to $883.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Raymond James upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $835.00 target price for the company in a research report on Thursday, July 30th.
Shares of NASDAQ:EQIX opened at $777.03 on Thursday. The company has a market cap of $68.81 billion, a price-to-earnings ratio of 134.67, a PEG ratio of 2.74 and a beta of 0.43. The firm’s 50-day simple moving average is $775.94 and its 200-day simple moving average is $728.46. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.12. Equinix has a fifty-two week low of $477.87 and a fifty-two week high of $839.77.
In related news, CFO Keith D. Taylor sold 82 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $786.44, for a total value of $64,488.08. Following the transaction, the chief financial officer now directly owns 30,749 shares of the company’s stock, valued at approximately $24,182,243.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sara Baack sold 250 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $764.24, for a total value of $191,060.00. Following the completion of the transaction, the insider now directly owns 10,194 shares in the company, valued at $7,790,662.56. The disclosure for this sale can be found here. Insiders sold a total of 6,807 shares of company stock worth $5,333,657 over the last ninety days. Corporate insiders own 0.51% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Glenmede Trust Co. NA grew its holdings in shares of Equinix by 879.0% in the 2nd quarter. Glenmede Trust Co. NA now owns 15,732 shares of the financial services provider’s stock valued at $11,048,000 after acquiring an additional 14,125 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Equinix by 10.2% in the 2nd quarter. Alps Advisors Inc. now owns 1,283 shares of the financial services provider’s stock worth $901,000 after buying an additional 119 shares during the period. Diversified Trust Co grew its position in shares of Equinix by 47.0% in the 2nd quarter. Diversified Trust Co now owns 507 shares of the financial services provider’s stock worth $356,000 after buying an additional 162 shares during the period. Raymond James Trust N.A. grew its position in shares of Equinix by 16.8% in the 2nd quarter. Raymond James Trust N.A. now owns 1,956 shares of the financial services provider’s stock worth $1,374,000 after buying an additional 281 shares during the period. Finally, WESPAC Advisors LLC purchased a new stake in shares of Equinix in the 2nd quarter worth about $1,451,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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