Barclays Increases Equinix (NASDAQ:EQIX) Price Target to $822.00

Equinix (NASDAQ:EQIX) had its target price raised by Barclays from $810.00 to $822.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

EQIX has been the subject of a number of other reports. Evercore ISI raised their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. TD Cowen raised their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Scotiabank increased their target price 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $952.88.

Equinix Price Performance

NASDAQ:EQIX opened at $925.72 on Monday. The company has a 50-day moving average of $890.45 and a 200-day moving average of $822.99. The company has a market capitalization of $89.32 billion, a price-to-earnings ratio of 83.47, a PEG ratio of 2.32 and a beta of 0.71. Equinix has a 52 week low of $684.14 and a 52 week high of $943.02. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Insider Buying and Selling at Equinix

In other news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction that occurred 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 directly owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 9.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,754 shares of company stock valued at $11,666,756. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Equinix

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GS Investments Inc. raised its holdings in shares of Equinix by 0.5% in the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after purchasing an additional 12 shares during the last quarter. Cypress Capital Group increased its holdings in Equinix by 2.3% during the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after buying an additional 13 shares during the last quarter. MRA Advisory Group increased its holdings in Equinix by 3.2% during the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after buying an additional 13 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of Equinix by 50.0% in the third 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. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.