Rothschild & Co Redburn upgraded shares of Equinix (NASDAQ:EQIX – Free Report) to a strong-buy rating in a research note released on Monday morning,Zacks reports.
Several other equities analysts have also issued reports on the company. Stifel Nicolaus lifted their price target on Equinix from $1,250.00 to $1,265.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. BTIG Research upped their price objective on shares of Equinix from $1,210.00 to $1,240.00 and gave the company a “buy” rating in a report on Thursday, September 10th. Scotiabank reaffirmed a “sector perform” rating and set a $1,208.00 target price on shares of Equinix in a research report on Thursday, July 30th. Cantor Fitzgerald boosted their target price on shares of Equinix from $1,186.00 to $1,211.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Barclays lifted their price target on Equinix from $1,130.00 to $1,135.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 8th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,206.96.
Get Our Latest Stock Report on EQIX
Equinix Stock Up 3.5%
Equinix (NASDAQ:EQIX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.73 by $7.05. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Equinix had a return on equity of 10.76% and a net margin of 15.64%.The business’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.91 EPS. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. On average, equities analysts predict that Equinix will post 38.23 EPS for the current fiscal year.
Equinix Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th were paid a $5.16 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. Equinix’s dividend payout ratio is 132.90%.
Insider Transactions at Equinix
In related news, insider Michael Paladin sold 307 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $1,035.01, for a total value of $317,748.07. Following the sale, the insider directly owned 2,450 shares in the company, valued at approximately $2,535,774.50. The trade was a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 135 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $1,075.50, for a total value of $145,192.50. Following the sale, the insider directly owned 4,077 shares in the company, valued at $4,384,813.50. The trade was a 3.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 4,770 shares of company stock valued at $4,884,197. 0.27% of the stock is currently owned by insiders.
Institutional Trading of Equinix
Institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC raised its position in Equinix by 18.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,240 shares of the financial services provider’s stock worth $2,335,000 after buying an additional 355 shares during the last quarter. IPG Investment Advisors LLC purchased a new position in Equinix during the second quarter worth about $262,000. Engineers Gate Manager LP lifted its position in Equinix by 116.2% in the second quarter. Engineers Gate Manager LP now owns 26,947 shares of the financial services provider’s stock valued at $28,089,000 after buying an additional 14,482 shares during the last quarter. Cidel Asset Management Inc. grew its position in Equinix by 6.3% in the 2nd quarter. Cidel Asset Management Inc. now owns 269 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 16 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Equinix by 9.0% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 497 shares of the financial services provider’s stock worth $518,000 after acquiring an additional 41 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.
About Equinix
Equinix, Inc is a global digital infrastructure company that operates data centers and provides interconnection and cloud connectivity services. Its facilities, known as International Business Exchange (IBX) data centers, enable businesses, cloud providers, network operators, financial institutions and other organizations to securely house technology infrastructure and exchange data.
The company’s Platform Equinix services include colocation, private and public cloud connectivity, network interconnection, managed infrastructure and digital services.
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