BMO Capital Markets Issues Positive Forecast for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX) had its target price lifted by research analysts at BMO Capital Markets from $975.00 to $1,020.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 14.30% from the company’s previous close.

EQIX has been the subject of a number of other reports. Cfra restated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Evercore ISI increased their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Barclays lifted their price objective on Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. increased their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, TD Cowen boosted their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $934.00.

Equinix Stock Performance

Shares of EQIX stock opened at $892.41 on Thursday. The firm has a market capitalization of $84.70 billion, a price-to-earnings ratio of 91.30, a PEG ratio of 2.11 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The business’s 50-day moving average price is $866.57 and its 200-day moving average price is $804.08. Equinix has a 12 month low of $684.14 and a 12 month high of $943.02.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business earned $8.04 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Equinix will post 31.01 EPS for the current year.

Insider Buying and Selling

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Simon Miller sold 569 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,906 shares of company stock worth $9,071,764 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Large investors have recently bought and sold shares of the stock. CNB Bank raised its holdings in shares of Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 19 shares during the last quarter. LRI Investments LLC bought a new stake in Equinix in the 1st quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the 2nd quarter valued at about $30,000. GHP Investment Advisors Inc. lifted its position in shares of Equinix by 50.0% during the 3rd 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 in the last quarter. Finally, Fortitude Family Office LLC boosted 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 buying an additional 13 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

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.