TD Cowen Issues Positive Forecast for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX) had its price objective increased by TD Cowen from $865.00 to $984.00 in a research report sent to investors on Thursday morning, Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

Several other analysts also recently issued reports on EQIX. Barclays increased their price objective on shares of Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. The Goldman Sachs Group lifted their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Mizuho upped 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, JPMorgan Chase & Co. lifted their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Five research 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. According to MarketBeat, Equinix currently has an average rating of “Moderate Buy” and an average price target of $944.63.

Equinix Stock Down 2.2 %

Shares of Equinix stock opened at $888.30 on Thursday. Equinix has a twelve month low of $684.14 and a twelve month high of $943.02. The stock has a market cap of $85.71 billion, a price-to-earnings ratio of 80.10, a price-to-earnings-growth ratio of 2.18 and a beta of 0.71. The company has a current ratio of 1.16, a quick ratio of 1.22 and a debt-to-equity ratio of 1.12. The company has a fifty day moving average price of $869.56 and a 200 day moving average price of $806.24.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.34% and a net margin of 12.29%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm earned $8.04 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the sale, the insider now owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Equinix news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the sale, the insider now owns 8,231 shares in the company, valued at $7,531,365. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,906 shares of company stock worth $9,071,764. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Equinix

Several large investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC boosted its position in Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after acquiring an additional 398,494 shares during the period. Swedbank AB acquired a new stake in Equinix in the first quarter worth about $294,526,000. Principal Financial Group Inc. grew its position in Equinix by 14.5% in the 2nd 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 buying an additional 238,883 shares in the last quarter. Vanguard Group Inc. grew its position in Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after buying an additional 238,815 shares in the last quarter. Finally, M&G Plc acquired a new position in Equinix during the 1st quarter valued at about $187,089,000. 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.