Equinix (NASDAQ:EQIX) Stock Price Expected to Rise, Truist Financial Analyst Says

Equinix (NASDAQ:EQIX) had its target price raised by stock analysts at Truist Financial from $935.00 to $1,090.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price indicates a potential upside of 11.06% from the company’s current price.

A number of other research firms have also issued reports on EQIX. Cfra restated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Scotiabank raised 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. JPMorgan Chase & Co. boosted their price target on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, Mizuho upped their target price on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average price target of $962.56.

Equinix Price Performance

NASDAQ EQIX traded up $2.38 during trading hours on Friday, reaching $981.48. The company’s stock had a trading volume of 362,786 shares, compared to its average volume of 533,021. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $94.70 billion, a PE ratio of 88.48, a PEG ratio of 2.52 and a beta of 0.71. The company’s 50-day moving average is $900.50 and its two-hundred day moving average is $831.45. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Insider Buying and Selling

In other Equinix news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was 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 owns 5,554 shares in the company, valued at approximately $4,559,334.14. The trade was a 9.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the transaction, the executive vice president now directly owns 4,893 shares in the company, valued at $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,754 shares of company stock worth $11,666,756 in the last three months. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EQIX. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix during the 2nd quarter valued at about $30,000. LRI Investments LLC bought a new stake in Equinix during the first quarter worth approximately $31,000. GHP Investment Advisors Inc. grew 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 worth $35,000 after buying an additional 13 shares during the last quarter. Fortitude Family Office LLC grew 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 worth $35,000 after buying an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Equinix in the second quarter valued at $36,000. Institutional investors own 94.94% of the company’s stock.

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.