Equinix (NASDAQ:EQIX) Upgraded at Moffett Nathanson

Equinix (NASDAQ:EQIX) was upgraded by analysts at Moffett Nathanson from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Scotiabank raised their target price on Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 23rd. BMO Capital Markets lifted their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Barclays upped their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. JMP Securities reissued a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday. Finally, Stifel Nicolaus boosted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $996.06.

Equinix Stock Performance

EQIX stock opened at $933.27 on Wednesday. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. 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 company has a market cap of $90.05 billion, a P/E ratio of 84.15, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The business’s fifty day moving average is $939.33 and its 200-day moving average is $889.81.

Insider Buying and Selling at Equinix

In related news, Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the sale, the chairman now owns 15,233 shares in the company, valued at approximately $13,859,135.73. This represents a 27.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,801 shares of company stock worth $15,530,564 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new position in Equinix in the 4th quarter valued at approximately $31,000. GHP Investment Advisors Inc. lifted its stake in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Equinix by 50.0% during the 3rd 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 in the last quarter. J.Safra Asset Management Corp bought a new stake in Equinix during the 4th quarter worth $39,000. Finally, Sierra Ocean LLC acquired a new position in Equinix in the 4th quarter worth about $42,000. 94.94% of the stock is owned by institutional investors and hedge funds.

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.