Oppenheimer Issues Positive Forecast for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX) had its price target raised by Oppenheimer from $950.00 to $975.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other analysts have also commented on the company. Truist Financial lifted their price target on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Royal Bank of Canada upped 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. Wells Fargo & Company cut their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $994.82.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $923.00 on Thursday. Equinix has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $89.06 billion, a price-to-earnings ratio of 83.23, a PEG ratio of 2.23 and a beta of 0.72. The firm has a 50 day simple moving average of $936.92 and a 200 day simple moving average of $894.76.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. Research analysts predict that Equinix will post 31.09 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 199.30%.

Insider Transactions at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value 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. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,801 shares of company stock valued at $15,530,564 over the last ninety days. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equinix

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