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

Equinix (NASDAQ:EQIX) had its target price trimmed by BMO Capital Markets from $1,085.00 to $1,065.00 in a report published on Thursday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on EQIX. Truist Financial boosted their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, November 29th. TD Cowen boosted their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company cut their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday. Citizens Jmp raised Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $994.82.

Equinix Trading Down 1.3 %

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

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

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is currently 199.30%.

Insider Buying and Selling

In other news, insider Kurt Pletcher sold 222 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total value of $213,608.40. Following the sale, the insider now owns 1,015 shares in the company, valued at approximately $976,633. This trade represents a 17.95 % 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, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the transaction, the director now owns 17,794 shares of the company’s stock, 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. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Several large investors have recently added to or reduced their stakes in EQIX. Norges Bank bought a new stake in shares of Equinix during the fourth quarter valued at approximately $1,067,270,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after buying an additional 813,666 shares in the last quarter. Wellington Management Group LLP increased its holdings in Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after buying an additional 401,991 shares during the period. Pathway Financial Advisers LLC raised its stake in shares of Equinix by 89,348.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after buying an additional 398,494 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Equinix during the 4th quarter worth about $328,899,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.