Shares of Equinix, Inc. (NASDAQ:EQIX) have earned a consensus rating of "Moderate Buy" from the twenty-one analysts that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $751.18.
A number of analysts have recently weighed in on EQIX shares. StockNews.com downgraded Equinix from a "buy" rating to a "hold" rating in a research report on Wednesday, November 23rd. Royal Bank of Canada upped their target price on Equinix from $668.00 to $720.00 and gave the company an "outperform" rating in a research report on Monday, November 14th. The Goldman Sachs Group dropped their price objective on Equinix from $765.00 to $670.00 and set a "buy" rating for the company in a research report on Wednesday, October 12th. Morgan Stanley dropped their price objective on Equinix from $732.00 to $704.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 26th. Finally, BMO Capital Markets dropped their price objective on Equinix from $680.00 to $660.00 and set a "market perform" rating for the company in a research report on Thursday, November 3rd.
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Insider Activity
In other news, insider Brandi Galvin Morandi sold 65 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $549.83, for a total value of $35,738.95. Following the completion of the sale, the insider now owns 17,285 shares of the company's stock, valued at $9,503,811.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Christopher B. Paisley sold 50 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $658.69, for a total value of $32,934.50. Following the completion of the sale, the director now owns 17,777 shares of the company's stock, valued at $11,709,532.13. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brandi Galvin Morandi sold 65 shares of the firm's stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $549.83, for a total value of $35,738.95. Following the sale, the insider now directly owns 17,285 shares of the company's stock, valued at approximately $9,503,811.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,068 shares of company stock valued at $2,115,438. Company insiders own 0.32% of the company's stock.
Institutional Investors Weigh In On Equinix
Large investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC acquired a new stake in Equinix during the second quarter worth approximately $25,000. Heritage Financial Services LLC acquired a new stake in Equinix during the second quarter worth approximately $28,000. Vigilant Capital Management LLC acquired a new stake in Equinix during the second quarter worth approximately $32,000. Guardian Wealth Advisors LLC acquired a new stake in Equinix during the third quarter worth approximately $32,000. Finally, Tompkins Financial Corp acquired a new stake in Equinix during the second quarter worth approximately $33,000. Institutional investors and hedge funds own 93.82% of the company's stock.
Equinix Stock Performance
NASDAQ:EQIX opened at $684.27 on Tuesday. The stock has a fifty day moving average price of $595.26 and a 200-day moving average price of $637.48. The company has a market cap of $63.32 billion, a price-to-earnings ratio of 89.45, a PEG ratio of 2.87 and a beta of 0.59. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.37 and a current ratio of 2.37. Equinix has a fifty-two week low of $494.89 and a fifty-two week high of $853.42.
Equinix Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Wednesday, November 16th will be paid a $3.10 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $12.40 annualized dividend and a dividend yield of 1.81%. Equinix's payout ratio is 162.09%.
Equinix Company Profile
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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.