Equinix (NASDAQ:EQIX) Raised to “Strong-Buy” at Moffett Nathanson

Equinix (NASDAQ:EQIX) was upgraded by analysts at Moffett Nathanson from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts also recently issued reports on EQIX. Scotiabank upped their price objective on Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 23rd. Barclays lifted their price objective on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. JMP Securities restated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday. Royal Bank of Canada increased their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Evercore ISI increased their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $996.06.

Equinix Stock Down 0.5 %

Shares of EQIX opened at $933.27 on Wednesday. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50-day simple moving average of $939.33 and a 200-day simple moving average of $889.81. The firm has a market capitalization of $90.05 billion, a P/E ratio of 84.15, a P/E/G ratio of 2.18 and a beta of 0.72.

Insider Buying and Selling at Equinix

In other Equinix news, insider Kurt Pletcher sold 222 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total value of $213,608.40. Following the completion of the sale, the insider now owns 1,015 shares of the company’s stock, valued at $976,633. This represents a 17.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the transaction, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,801 shares of company stock worth $15,530,564 over the last three months. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equinix

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Investment Management LLC bought a new position in shares of Equinix in the fourth quarter worth approximately $31,000. GHP Investment Advisors Inc. boosted its holdings in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Fortitude Family Office LLC increased its stake in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in Equinix in the fourth quarter worth about $39,000. Finally, Sierra Ocean LLC bought a new stake in Equinix during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.