By otakuyassine3@gmail.com 
Equinix (NASDAQ:EQIX – Free Report) had its price objective raised by Oppenheimer from $950.00 to $975.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.
Several other research analysts have also commented on the stock. BMO Capital Markets upped their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday. Wells Fargo & Company reduced their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday. Barclays raised their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Finally, Stifel Nicolaus raised their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Three investment 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $994.82.
Check Out Our Latest Report on EQIX
Equinix Stock Up 1.1 %
Shares of NASDAQ EQIX opened at $933.60 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 12 month low of $684.14 and a 12 month high of $994.03. The firm has a market capitalization of $90.08 billion, a PE ratio of 84.18, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. The firm has a fifty day simple moving average of $934.88 and a two-hundred day simple moving average of $896.05.
Equinix (NASDAQ:EQIX – Get Free Report) last issued its quarterly earnings data 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%. Equities analysts expect that Equinix will post 31.09 earnings per share for the current year.
Equinix Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.01%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 153.65%.
Insider Activity
In other news, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 5,788 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the sale, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,801 shares of company stock worth $15,530,564 over the last quarter. Insiders own 0.27% of the company’s stock.
Institutional Trading of Equinix
Hedge funds have recently added to or reduced their stakes in the business. Kestra Investment Management LLC bought a new position in Equinix in the fourth quarter worth about $31,000. GHP Investment Advisors Inc. boosted its position in 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 buying an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its position in 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 buying an additional 13 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in Equinix in the 4th quarter worth approximately $39,000. Finally, Sierra Ocean LLC purchased a new stake in Equinix in the 4th quarter worth approximately $42,000. 94.94% of the stock is 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.
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