Equinix (NASDAQ:EQIX) Price Target Raised to $880.00

Equinix (NASDAQ:EQIX) had its price objective increased by Oppenheimer from $820.00 to $880.00 in a research report report published on Thursday morning, The Fly reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other brokerages have also commented on EQIX. Wells Fargo & Company increased their price objective on Equinix from $825.00 to $875.00 and gave the company an overweight rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on Equinix from $861.00 to $895.00 and gave the company an overweight rating in a research report on Thursday. Wolfe Research began coverage on Equinix in a research report on Thursday, March 18th. They set an outperform rating on the stock. The Goldman Sachs Group increased their price objective on Equinix from $830.00 to $920.00 and gave the company a buy rating in a research report on Thursday, June 17th. They noted that the move was a valuation call. Finally, Raymond James increased their price objective on Equinix from $856.00 to $915.00 and gave the company a strong-buy rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $864.48.

Shares of NASDAQ EQIX opened at $779.32 on Thursday. The company has a market cap of $69.81 billion, a price-to-earnings ratio of 31.43, a P/E/G ratio of 2.00 and a beta of 0.28. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.55 and a quick ratio of 1.55. The business has a 50-day simple moving average of $748.30. Equinix has a twelve month low of $586.73 and a twelve month high of $839.77.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, April 28th. The financial services provider reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $6.03 by ($4.29). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Equinix had a return on equity of 5.85% and a net margin of 6.62%. Equinix’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.21 earnings per share. On average, sell-side analysts expect that Equinix will post 24.41 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 16th. Shareholders of record on Wednesday, May 19th were issued a $2.87 dividend. This represents a $11.48 annualized dividend and a yield of 1.47%. The ex-dividend date was Tuesday, May 18th. Equinix’s dividend payout ratio (DPR) is currently 46.37%.

In other news, CEO Charles J. Meyers sold 5,051 shares of the firm’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $795.42, for a total value of $4,017,666.42. Following the completion of the transaction, the chief executive officer now owns 8,815 shares in the company, valued at approximately $7,011,627.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary Hromadko sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $796.00, for a total value of $7,960,000.00. Following the completion of the transaction, the director now owns 158,261 shares of the company’s stock, valued at approximately $125,975,756. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,501 shares of company stock valued at $13,019,508. Company insiders own 13.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DRW Securities LLC purchased a new position in shares of Equinix in the 1st quarter valued at approximately $295,000. Uniplan Investment Counsel Inc. increased its position in Equinix by 4.2% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 108,023 shares of the financial services provider’s stock valued at $77,148,000 after buying an additional 4,349 shares in the last quarter. Securian Asset Management Inc increased its position in Equinix by 29.4% during the 1st quarter. Securian Asset Management Inc now owns 90,071 shares of the financial services provider’s stock valued at $61,211,000 after buying an additional 20,445 shares in the last quarter. Quaero Capital S.A. increased its position in Equinix by 6.7% during the 1st quarter. Quaero Capital S.A. now owns 2,720 shares of the financial services provider’s stock valued at $1,848,000 after buying an additional 170 shares in the last quarter. Finally, AMF Pensionsforsakring AB increased its position in Equinix by 6.2% during the 1st quarter. AMF Pensionsforsakring AB now owns 58,197 shares of the financial services provider’s stock valued at $39,571,000 after buying an additional 3,389 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

Recommended Story: Ex-Dividend

The Fly logo

Analyst Recommendations for Equinix (NASDAQ:EQIX)

Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.