Equinix (NASDAQ:EQIX) Upgraded to Strong-Buy at Moffett Nathanson

Equinix (NASDAQ:EQIX) was upgraded by equities research analysts at Moffett Nathanson from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts have also recently weighed in on the company. Barclays raised their price objective on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Royal Bank of Canada increased their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Evercore ISI boosted their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Scotiabank lifted their target price on shares of Equinix from $985.00 to $1,114.00 and gave the company a “sector outperform” rating in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Equinix has an average rating of “Buy” and an average price target of $996.06.

Equinix Stock Down 0.5 %

NASDAQ:EQIX opened at $933.27 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $90.05 billion, a PE ratio of 84.15, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The company has a 50-day moving average of $939.33 and a 200 day moving average of $889.81. Equinix has a 1-year low of $684.14 and a 1-year high of $994.03.

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the sale, the chairman now directly owns 15,233 shares in the company, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 3,184 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the completion of the transaction, the chief financial officer now owns 22,076 shares in the company, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,801 shares of company stock valued at $15,530,564 in the last quarter. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently added to or reduced their stakes in EQIX. Kestra Investment Management LLC acquired a new position in shares of Equinix during the 4th quarter worth $31,000. GHP Investment Advisors Inc. raised its stake in shares of Equinix by 50.0% in the third 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 in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the period. J.Safra Asset Management Corp acquired a new stake in Equinix during the fourth quarter valued at approximately $39,000. Finally, Sierra Ocean LLC bought a new position in shares of Equinix during the fourth quarter valued at $42,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.