BMO Capital Markets Forecasts Strong Price Appreciation for Equinix (NASDAQ:EQIX) Stock

Equinix (NASDAQ:EQIX) had its price target upped by research analysts at BMO Capital Markets from $975.00 to $1,020.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 14.83% from the company’s current price.

A number of other research firms have also issued reports on EQIX. Evercore ISI lifted their target price on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. The Goldman Sachs Group raised their target price on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. upped their price target on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, Barclays increased their price objective on Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

Equinix Trading Down 2.2 %

Shares of NASDAQ:EQIX opened at $888.30 on Thursday. The company has a 50 day moving average of $869.56 and a 200-day moving average of $805.80. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a market cap of $84.34 billion, a P/E ratio of 80.10, a P/E/G ratio of 2.19 and a beta of 0.71. Equinix has a twelve month low of $684.14 and a twelve month high of $943.02.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.55% and a net margin of 12.29%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company earned $8.04 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Equinix will post 31.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Equinix

In other news, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,906 shares of company stock worth $9,071,764. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Equinix

Hedge funds have recently modified their holdings of the stock. Norden Group LLC bought a new position in Equinix in the 1st quarter worth approximately $3,087,000. Private Advisor Group LLC grew its stake in Equinix by 5.6% in the first quarter. Private Advisor Group LLC now owns 931 shares of the financial services provider’s stock valued at $769,000 after acquiring an additional 49 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Equinix by 15.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,530 shares of the financial services provider’s stock worth $29,324,000 after buying an additional 4,664 shares during the period. Janney Montgomery Scott LLC lifted its position in Equinix by 4.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider’s stock valued at $8,102,000 after acquiring an additional 414 shares in the last quarter. Finally, PDS Planning Inc boosted its position in shares of Equinix by 3.8% during the first quarter. PDS Planning Inc now owns 521 shares of the financial services provider’s stock worth $430,000 after buying an additional 19 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

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.