Equinix (NASDAQ:EQIX) Stock Price Expected to Rise, Oppenheimer Analyst Says

Equinix (NASDAQ:EQIX) had its target price upped by investment analysts at Oppenheimer from $950.00 to $975.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price target indicates a potential upside of 6.07% from the stock’s current price.

Several other analysts have also commented on the stock. Evercore ISI upped their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Truist Financial raised their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. TD Cowen upped their target price on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $996.94.

Equinix Trading Down 1.7 %

Equinix stock traded down $15.99 during trading on Thursday, reaching $919.22. 362,614 shares of the company were exchanged, compared to its average volume of 485,526. The stock’s 50 day simple moving average is $936.92 and its two-hundred day simple moving average is $894.76. The company has a market capitalization of $88.70 billion, a P/E ratio of 82.89, a PEG ratio of 2.23 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. On average, equities research analysts expect that Equinix will post 31.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the transaction, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at approximately $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,801 shares of company stock valued at $15,530,564. 0.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EQIX. Bank of Nova Scotia grew its stake in Equinix by 511.1% in the 4th quarter. Bank of Nova Scotia now owns 75,194 shares of the financial services provider’s stock valued at $70,900,000 after acquiring an additional 62,889 shares during the last quarter. FIL Ltd increased its stake in shares of Equinix by 42.7% during the 4th quarter. FIL Ltd now owns 47,066 shares of the financial services provider’s stock worth $44,378,000 after purchasing an additional 14,091 shares in the last quarter. Employees Retirement System of Texas raised its position in shares of Equinix by 55.4% during the 4th quarter. Employees Retirement System of Texas now owns 77,370 shares of the financial services provider’s stock worth $72,951,000 after purchasing an additional 27,570 shares during the last quarter. Bank of Montreal Can lifted its stake in Equinix by 12.5% in the 4th quarter. Bank of Montreal Can now owns 132,228 shares of the financial services provider’s stock valued at $124,677,000 after buying an additional 14,654 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in Equinix by 21.3% during the 4th quarter. Cerity Partners LLC now owns 11,800 shares of the financial services provider’s stock valued at $10,861,000 after buying an additional 2,072 shares during the last quarter. Hedge funds and other institutional investors 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.