Equinix (NASDAQ:EQIX) Stock Price Up 0.5% After Analyst Upgrade

Shares of Equinix, Inc. (NASDAQ:EQIX) were up 0.5% during mid-day trading on Thursday after Stifel Nicolaus raised their price target on the stock from $995.00 to $1,080.00. Stifel Nicolaus currently has a buy rating on the stock. Equinix traded as high as $924.73 and last traded at $923.10. Approximately 59,722 shares were traded during trading, a decline of 89% from the average daily volume of 525,040 shares. The stock had previously closed at $918.94.

A number of other equities research analysts have also weighed in on EQIX. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and boosted their target price for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. The Goldman Sachs Group upped 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. boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Scotiabank increased their price objective on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Five investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $952.88.

Insider Transactions at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This represents a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This trade represents a 44.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,754 shares of company stock worth $11,666,756. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of institutional investors and hedge funds have recently modified their holdings of EQIX. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix during the 2nd quarter valued at about $30,000. LRI Investments LLC acquired a new position in Equinix in the 1st quarter valued at about $31,000. GHP Investment Advisors Inc. boosted its holdings in 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 purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC 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. Finally, Meeder Asset Management Inc. acquired a new position in Equinix in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 0.7 %

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 company has a market capitalization of $89.33 billion, a price-to-earnings ratio of 83.24, a price-to-earnings-growth ratio of 2.32 and a beta of 0.71. The firm’s fifty day simple moving average is $889.31 and its two-hundred day simple moving average is $822.27.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.84%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

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.