Equinix (NASDAQ:EQIX) Given New $1,033.00 Price Target at Scotiabank

Equinix (NASDAQ:EQIX) had its price objective decreased by analysts at Scotiabank from $1,114.00 to $1,033.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price target indicates a potential upside of 12.93% from the company’s previous close.

Other analysts also recently issued reports about the stock. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Stifel Nicolaus boosted their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Barclays boosted their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Royal Bank of Canada boosted their target price on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, TD Cowen boosted their target price 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. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $994.82.

Equinix Trading Down 2.2 %

Shares of Equinix stock traded down $20.45 during trading on Thursday, hitting $914.75. The stock had a trading volume of 536,336 shares, compared to its average volume of 492,115. The stock has a 50 day simple moving average of $936.92 and a 200 day simple moving average of $894.76. The company has a market capitalization of $88.26 billion, a PE ratio of 82.45, a P/E/G ratio of 2.23 and a beta of 0.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. On average, research analysts expect that Equinix will post 31.09 EPS for the current fiscal year.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the sale, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. This represents a 7.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,801 shares of company stock worth $15,530,564. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equinix

Institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its holdings in Equinix by 9.2% in the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after purchasing an additional 1,716 shares in the last quarter. Brookfield Corp ON raised its stake in shares of Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after purchasing an additional 32,481 shares during the last quarter. E. Ohman J or Asset Management AB grew 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 valued at $33,215,000 after purchasing an additional 1,103 shares during the last quarter. Thematics Asset Management boosted its stake in Equinix by 17.7% in the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after buying an additional 6,000 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Equinix by 46.1% during the 4th quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock worth $278,712,000 after purchasing an additional 92,975 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.