Equinix (NASDAQ:EQIX) Given New $1,075.00 Price Target at Wells Fargo & Company

Equinix (NASDAQ:EQIX) had its target price decreased by investment analysts at Wells Fargo & Company from $1,100.00 to $1,075.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 17.93% from the stock’s current price.

EQIX has been the topic of several other reports. Scotiabank raised their target price on shares of Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 23rd. Barclays boosted their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. JMP Securities assumed coverage on Equinix in a research report on Monday, January 27th. They issued an “outperform” rating and a $1,200.00 target price on the stock. TD Cowen boosted their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Evercore ISI upped their price objective on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $996.06.

Equinix Trading Down 0.4 %

Shares of Equinix stock traded down $3.43 during trading hours on Tuesday, hitting $911.57. The company’s stock had a trading volume of 15,881 shares, compared to its average volume of 508,893. The company has a market capitalization of $87.96 billion, a PE ratio of 81.99, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. 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 stock has a 50 day moving average of $943.26 and a 200 day moving average of $887.33. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03.

Insiders Place Their Bets

In related news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the sale, the director now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the transaction, the chief financial officer now owns 18,966 shares in the company, valued at approximately $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,823 shares of company stock valued at $16,474,442. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Several hedge funds have recently modified their holdings of EQIX. Inspire Trust Co. N.A. boosted its position in Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares during the last quarter. GS Investments Inc. raised its stake in shares of Equinix by 0.5% during the 3rd quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after purchasing an additional 12 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of Equinix by 1.8% in the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after buying an additional 12 shares during the last quarter. Great Lakes Retirement Inc. grew its position in Equinix by 1.2% during the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock valued at $920,000 after buying an additional 12 shares during the period. Finally, GHP Investment Advisors Inc. increased its holdings in Equinix by 50.0% during 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. 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.