Equinix (NASDAQ:EQIX) Price Target Raised to $1,114.00 at Scotiabank

Equinix (NASDAQ:EQIX) had its price objective increased by Scotiabank from $985.00 to $1,114.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a sector outperform rating on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Royal Bank of Canada boosted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Truist Financial increased their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, November 29th. Wells Fargo & Company lifted their price target on Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Stifel Nicolaus boosted their price objective on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, BMO Capital Markets raised their target price 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. Three 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 MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average price target of $984.88.

Equinix Trading Up 1.7 %

EQIX stock opened at $940.93 on Thursday. Equinix has a one year low of $684.14 and a one year high of $994.03. The company has a market capitalization of $90.79 billion, a PE ratio of 84.84, a price-to-earnings-growth ratio of 2.22 and a beta of 0.73. The company’s 50 day moving average price is $942.79 and its two-hundred day moving average price is $880.36. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.81%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insider Transactions at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the sale, the director now directly owns 17,794 shares in the company, valued at approximately $15,854,454. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,549 shares of company stock valued at $18,036,455. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its position in shares of Equinix by 9.2% in the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares during the last quarter. Brookfield Corp ON raised its holdings in Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after buying an additional 32,481 shares during the last quarter. E. Ohman J or Asset Management AB raised its holdings in Equinix by 3.0% in the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after buying an additional 1,103 shares during the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of Equinix by 25.9% during the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after buying an additional 75,888 shares during the last quarter. Finally, Thematics Asset Management increased its position in shares of Equinix by 17.7% during the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after acquiring an additional 6,000 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

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.