Wells Fargo & Company Cuts Equinix (NASDAQ:EQIX) Price Target to $1,065.00

Equinix (NASDAQ:EQIX) had its price objective decreased by Wells Fargo & Company from $1,075.00 to $1,065.00 in a research report sent to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

EQIX has been the subject of a number of other reports. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Evercore ISI boosted their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 6th. Stifel Nicolaus lifted their target price on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, BMO Capital Markets upped their price target on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $994.82.

Equinix Stock Performance

Shares of EQIX opened at $923.00 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a market cap of $89.06 billion, a P/E ratio of 83.23, a P/E/G ratio of 2.23 and a beta of 0.72. The business’s 50 day moving average price is $936.92 and its 200-day moving average price is $894.76. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX) last released its 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%. Equities research analysts anticipate that Equinix will post 31.09 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is 199.30%.

Insider Activity at Equinix

In other news, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the transaction, the chief financial officer now owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,801 shares of company stock worth $15,530,564. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Equinix

Several large investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new stake in shares of Equinix during the 3rd quarter valued at $328,000. Creative Planning increased its stake in Equinix by 16.7% in the 3rd quarter. Creative Planning now owns 7,754 shares of the financial services provider’s stock worth $6,883,000 after buying an additional 1,111 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in Equinix by 2.7% during the third quarter. Sumitomo Life Insurance Co. now owns 1,650 shares of the financial services provider’s stock valued at $1,465,000 after acquiring an additional 44 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Equinix in the third quarter valued at about $1,878,000. Finally, Presima Securities ULC boosted its stake in shares of Equinix by 1.5% in the third quarter. Presima Securities ULC now owns 56,945 shares of the financial services provider’s stock worth $50,546,000 after acquiring an additional 840 shares during the period. 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.