Equinix (NASDAQ:EQIX) Price Target Lowered to $1,053.00 at Mizuho

Equinix (NASDAQ:EQIX) had its price objective dropped by equities research analysts at Mizuho from $1,094.00 to $1,053.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Mizuho’s target price suggests a potential upside of 27.71% from the stock’s previous close.

Several other equities analysts have also issued reports on EQIX. Truist Financial cut their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday, March 10th. Oppenheimer increased their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Royal Bank of Canada raised 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. Finally, Barclays upped their price objective on Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix currently has a consensus rating of “Buy” and an average price target of $993.94.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $824.50 on Friday. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a market cap of $80.25 billion, a P/E ratio of 96.57, a P/E/G ratio of 1.78 and a beta of 0.74. The business’s 50 day moving average is $898.21 and its two-hundred day moving average is $908.63. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities analysts expect that Equinix will post 33.1 EPS for the current year.

Insider Activity at Equinix

In related news, CEO Adaire Fox-Martin sold 1,370 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the sale, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. This represents a 24.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Keith D. Taylor sold 3,184 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the transaction, the chief financial officer now owns 22,076 shares in the company, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Several hedge funds have recently bought and sold shares of EQIX. Oppenheimer & Co. Inc. increased its position in shares of Equinix by 61.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after buying an additional 3,212 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Equinix by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after acquiring an additional 2,560 shares during the period. National Pension Service increased its holdings in shares of Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock worth $229,263,000 after acquiring an additional 3,164 shares in the last quarter. Brookfield Corp ON raised its position 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 period. Finally, Empowered Funds LLC lifted its holdings in shares of Equinix by 19.2% during the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after purchasing an additional 404 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.