Equinix (NASDAQ:EQIX) Price Target Raised to $975.00 at Oppenheimer

Equinix (NASDAQ:EQIX) had its target price boosted by equities researchers at Oppenheimer from $950.00 to $975.00 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. Oppenheimer’s price target would indicate a potential upside of 4.43% from the company’s previous close.

Several other research firms have also issued reports on EQIX. Truist Financial increased their target price on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research report on Thursday. Evercore ISI increased their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. TD Cowen increased their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays increased their price target on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $994.82.

Equinix Price Performance

EQIX opened at $933.60 on Thursday. The stock’s 50-day moving average price is $935.90 and its 200 day moving average price is $894.96. Equinix has a 12-month low of $684.14 and a 12-month high of $994.03. 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 firm has a market cap of $90.08 billion, a price-to-earnings ratio of 84.18, a PEG ratio of 2.23 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that Equinix will post 31.09 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Keith D. Taylor sold 3,184 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the transaction, the chief financial officer now owns 22,076 shares in the company, valued at $20,085,186.32. This trade represents a 12.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kurt Pletcher sold 341 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value of $308,168.52. Following the transaction, the insider now owns 1,430 shares in the company, valued at $1,292,319.60. This represents a 19.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,801 shares of company stock worth $15,530,564 in the last quarter. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EQIX. Kestra Investment Management LLC purchased a new position in shares of Equinix in the 4th quarter valued at approximately $31,000. GHP Investment Advisors Inc. grew its stake in shares of 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 grew its stake in shares of 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. J.Safra Asset Management Corp purchased a new position in shares of Equinix in the 4th quarter valued at approximately $39,000. Finally, Sierra Ocean LLC purchased a new position in shares of Equinix in the 4th quarter valued at approximately $42,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

About Equinix

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.