Cfra Reaffirms “Hold” Rating for Equinix (NASDAQ:EQIX)

Cfra reiterated their hold rating on shares of Equinix (NASDAQ:EQIX) in a research note released on Tuesday morning, Benzinga reports.

Several other equities research analysts have also issued reports on EQIX. Barclays increased their target price on shares of Equinix from $669.00 to $671.00 and gave the stock an equal weight rating in a report on Thursday, May 30th. Royal Bank of Canada cut their price objective on shares of Equinix from $950.00 to $922.00 and set an outperform rating for the company in a report on Tuesday, May 28th. Truist Financial lifted their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a buy rating in a research report on Wednesday, August 21st. Mizuho lifted their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an outperform rating in a research report on Thursday, September 12th. Finally, The Goldman Sachs Group initiated coverage on shares of Equinix in a research report on Monday, July 1st. They set a buy rating and a $870.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $891.57.

Equinix Price Performance

NASDAQ EQIX opened at $882.69 on Tuesday. Equinix has a 52 week low of $677.80 and a 52 week high of $914.93. The firm has a market capitalization of $83.77 billion, a P/E ratio of 88.16, a PEG ratio of 2.15 and a beta of 0.71. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average price of $826.88 and a 200-day moving average price of $792.72.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $8.04 earnings per share. Equities research analysts anticipate that Equinix will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were 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 directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Swedbank AB purchased a new stake in shares of Equinix during the first quarter valued at $294,526,000. Principal Financial Group Inc. raised its holdings in shares of Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after acquiring an additional 238,883 shares in the last quarter. Vanguard Group Inc. raised its holdings in Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares in the last quarter. M&G Plc bought a new position in Equinix in the first quarter worth about $187,089,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Equinix during the first quarter valued at about $145,308,000. 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.