Wall Street Zen Downgrades Equinix (NASDAQ:EQIX) to Sell

Equinix (NASDAQ:EQIX) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research firms also recently issued reports on EQIX. Citigroup reaffirmed a “buy” rating on shares of Equinix in a report on Thursday, December 11th. TD Cowen raised their price target on shares of Equinix from $993.00 to $995.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price objective on Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. BMO Capital Markets upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price objective for the company in a research note on Wednesday, December 3rd. Finally, Zacks Research lowered Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $952.05.

Equinix Stock Up 2.4%

Shares of EQIX opened at $800.35 on Friday. The firm has a market cap of $78.59 billion, a P/E ratio of 73.29, a PEG ratio of 1.25 and a beta of 1.05. Equinix has a 12 month low of $701.41 and a 12 month high of $953.41. The stock’s 50 day moving average is $769.03 and its two-hundred day moving average is $781.96. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the firm posted $9.05 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. Analysts predict that Equinix will post 33.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Equinix news, insider Jonathan Lin sold 124 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $731.18, for a total value of $90,666.32. Following the completion of the sale, the insider directly owned 8,299 shares of the company’s stock, valued at $6,068,062.82. This trade represents a 1.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 50 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $777.58, for a total transaction of $38,879.00. Following the transaction, the director directly owned 17,782 shares in the company, valued at approximately $13,826,927.56. The trade was a 0.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 8,704 shares of company stock worth $6,617,748 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several hedge funds have recently made changes to their positions in EQIX. Brighton Jones LLC lifted its holdings in Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 73 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in Equinix by 11.5% in the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 54 shares during the period. Empowered Funds LLC lifted its stake in shares of Equinix by 21.8% in the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock valued at $2,487,000 after purchasing an additional 546 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Equinix by 19.4% during the 1st quarter. Focus Partners Wealth now owns 2,573 shares of the financial services provider’s stock worth $2,098,000 after purchasing an additional 418 shares during the period. Finally, Intech Investment Management LLC grew its holdings in shares of Equinix by 10.9% during the 1st quarter. Intech Investment Management LLC now owns 3,094 shares of the financial services provider’s stock worth $2,523,000 after purchasing an additional 305 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.