Brokerages Set Equinix, Inc. (NASDAQ:EQIX) PT at $876.71

Shares of Equinix, Inc. (NASDAQ:EQIX) have received a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $876.71.

EQIX has been the subject of several analyst reports. TD Cowen boosted their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Mizuho initiated coverage on shares of Equinix in a research report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 target price for the company. Royal Bank of Canada dropped their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Finally, Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd.

Institutional Investors Weigh In On Equinix

A number of institutional investors have recently added to or reduced their stakes in the business. Goelzer Investment Management Inc. grew its holdings in Equinix by 0.3% during the 4th quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock worth $3,364,000 after acquiring an additional 13 shares during the last quarter. Cypress Capital Group boosted its stake in shares of Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 13 shares during the last quarter. MRA Advisory Group boosted its stake in shares of Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 13 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of Equinix by 3.0% in the 1st quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock valued at $402,000 after purchasing an additional 14 shares during the last quarter. Finally, Banco Santander S.A. boosted its stake in shares of Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock valued at $577,000 after purchasing an additional 14 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

Shares of Equinix stock opened at $813.70 on Thursday. Equinix has a twelve month low of $677.80 and a twelve month high of $914.93. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The company has a 50-day simple moving average of $789.69 and a two-hundred day simple moving average of $795.12. The stock has a market capitalization of $77.23 billion, a price-to-earnings ratio of 81.61, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 7.73% and a net margin of 11.32%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm earned $8.04 EPS. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts forecast that Equinix will post 31.23 EPS for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s payout ratio is 170.91%.

About Equinix

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.