Brokerages Set Equinix, Inc. (REIT) (NASDAQ:EQIX) Price Target at $880.94

Shares of Equinix, Inc. (REIT) (NASDAQ:EQIX) have been given a consensus recommendation of “Buy” by the twenty analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $880.94.

A number of research firms have weighed in on EQIX. Royal Bank of Canada increased their target price on Equinix from $830.00 to $885.00 and gave the stock an “outperform” rating in a research note on Monday, August 9th. Credit Suisse Group increased their target price on Equinix from $907.00 to $942.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. BMO Capital Markets increased their target price on Equinix from $850.00 to $910.00 and gave the stock an “outperform” rating in a research note on Monday, June 21st. Oppenheimer lowered Equinix from an “outperform” rating to a “market perform” rating and set a $880.00 target price on the stock. in a research note on Friday, September 10th. Finally, Truist increased their target price on Equinix from $900.00 to $925.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th.

NASDAQ EQIX opened at $834.89 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market capitalization of $74.93 billion, a P/E ratio of 219.13, a P/E/G ratio of 2.32 and a beta of 0.30. Equinix has a one year low of $586.73 and a one year high of $885.26. The stock has a 50 day moving average price of $832.46 and a 200-day moving average price of $760.82.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, July 28th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.03 by ($5.27). Equinix had a return on equity of 5.21% and a net margin of 5.40%. As a group, equities analysts predict that Equinix will post 24.36 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 22nd. Shareholders of record on Wednesday, August 18th will be issued a $2.87 dividend. This represents a $11.48 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Tuesday, August 17th. Equinix’s dividend payout ratio is presently 46.37%.

In other Equinix news, CEO Charles J. Meyers sold 1,449 shares of the business’s stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $872.80, for a total value of $1,264,687.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Earl Campbell sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $884.36, for a total value of $1,061,232.00. Following the completion of the transaction, the insider now directly owns 7,519 shares of the company’s stock, valued at $6,649,502.84. The disclosure for this sale can be found here. Insiders have sold 21,355 shares of company stock valued at $18,116,589 in the last ninety days. Corporate insiders own 13.20% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in Equinix by 3.4% in the second quarter. Brighton Jones LLC now owns 399 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 13 shares during the period. Gryphon Financial Partners LLC lifted its holdings in Equinix by 1.7% in the second quarter. Gryphon Financial Partners LLC now owns 759 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 13 shares during the period. Savant Capital LLC lifted its holdings in Equinix by 3.1% in the second quarter. Savant Capital LLC now owns 459 shares of the financial services provider’s stock valued at $368,000 after acquiring an additional 14 shares during the period. Sandy Spring Bank increased its position in shares of Equinix by 12.6% in the second quarter. Sandy Spring Bank now owns 125 shares of the financial services provider’s stock valued at $101,000 after buying an additional 14 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its position in shares of Equinix by 2.3% in the second quarter. Perigon Wealth Management LLC now owns 657 shares of the financial services provider’s stock valued at $527,000 after buying an additional 15 shares in the last quarter. 93.80% of the stock is owned by institutional investors.

Equinix Company Profile

Equinix, Inc engages in the provision of collocation space and develops data centre solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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