BMO Capital Markets Cuts Equinix (NASDAQ:EQIX) Price Target to $1,065.00

Equinix (NASDAQ:EQIX) had its price target cut by equities research analysts at BMO Capital Markets from $1,085.00 to $1,065.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 16.01% from the stock’s previous close.

EQIX has been the subject of a number of other reports. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research note on Thursday. Barclays boosted their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Stifel Nicolaus increased their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Evercore ISI boosted their price target on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $999.59.

Equinix Stock Down 1.8 %

EQIX stock traded down $17.20 during trading on Thursday, reaching $918.00. The stock had a trading volume of 419,991 shares, compared to its average volume of 488,343. 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 capitalization of $88.58 billion, a price-to-earnings ratio of 82.63, a P/E/G ratio of 2.23 and a beta of 0.72. Equinix has a one year low of $684.14 and a one year high of $994.03. The company’s 50 day moving average is $936.92 and its two-hundred day moving average is $894.76.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating 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 forecast that Equinix will post 31.09 EPS for the current year.

Insider Activity

In other news, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Monday, November 18th. The stock was 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 directly owns 17,794 shares in the company, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,801 shares of company stock valued at $15,530,564. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Institutional investors have recently modified their holdings of the company. Kestra Investment Management LLC bought a new position in Equinix during the 4th quarter valued at approximately $31,000. GHP Investment Advisors Inc. raised its holdings in shares of Equinix by 50.0% during the third 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 in the last quarter. Fortitude Family Office LLC lifted its stake in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the period. J.Safra Asset Management Corp bought a new stake in Equinix in the fourth quarter valued at $39,000. Finally, Sierra Ocean LLC purchased a new position in Equinix during the 4th quarter valued at $42,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.