Equinix (NASDAQ:EQIX) Price Target Raised to $822.00 at Barclays

Equinix (NASDAQ:EQIX) had its price objective raised by Barclays from $810.00 to $822.00 in a research note released on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on EQIX. TD Cowen lifted their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Truist Financial lifted their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Scotiabank lifted their target price on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. lifted their target price on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $945.38.

Equinix Trading Up 1.3 %

Shares of NASDAQ EQIX opened at $909.48 on Monday. The company has a market cap of $87.76 billion, a price-to-earnings ratio of 82.01, a price-to-earnings-growth ratio of 2.25 and a beta of 0.71. Equinix has a 12-month low of $684.14 and a 12-month high of $943.02. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock’s 50 day simple moving average is $887.12 and its 200 day simple moving average is $820.02.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.87%. Equinix’s dividend payout ratio is currently 153.65%.

Insiders Place Their Bets

In other news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The trade was a 44.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares in the company, valued at $7,729,900. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,754 shares of company stock valued at $11,666,756 over the last quarter. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Institutional investors have recently made changes to their positions in the business. LRI Investments LLC bought a new position in shares of Equinix in the first quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix in the second quarter worth about $30,000. GHP Investment Advisors Inc. increased its stake in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Fortitude Family Office LLC increased its stake in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the period. Finally, Sugarloaf Wealth Management LLC increased its stake in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares during the period. 94.94% of the stock is currently owned by institutional investors.

About Equinix

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.