Equinix (NASDAQ:EQIX) Stock Price Expected to Rise, Oppenheimer Analyst Says

Equinix (NASDAQ:EQIX) had its price objective boosted by stock analysts at Oppenheimer from $950.00 to $975.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price objective suggests a potential upside of 4.43% from the stock’s current price.

Other research analysts also recently issued reports about the company. Royal Bank of Canada boosted their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Evercore ISI boosted their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial boosted their price target on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, November 29th. TD Cowen boosted their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Barclays boosted their price target on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $994.82.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $933.60 on Thursday. The business’s 50 day moving average price is $935.90 and its 200 day moving average price is $894.96. The firm has a market cap of $90.08 billion, a P/E ratio of 84.18, a P/E/G ratio of 2.23 and a beta of 0.72. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. On average, sell-side analysts expect that Equinix will post 31.09 earnings per share for the current year.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the sale, the director now directly owns 17,794 shares in the company, valued at $15,854,454. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurt Pletcher sold 222 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were 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 approximately $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,801 shares of company stock valued at $15,530,564. 0.27% of the stock is owned by insiders.

Institutional Trading of Equinix

Several large investors have recently added to or reduced their stakes in EQIX. Norges Bank purchased a new stake in Equinix in the 4th quarter valued at $1,067,270,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Equinix by 302.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after purchasing an additional 813,666 shares during the period. Northern Trust Corp grew its holdings in shares of Equinix by 65.3% during the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock worth $1,399,042,000 after purchasing an additional 586,034 shares during the period. Wellington Management Group LLP grew its holdings in shares of Equinix by 28.7% during the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock worth $1,701,188,000 after purchasing an additional 401,991 shares during the period. Finally, Pathway Financial Advisers LLC grew its holdings in shares of Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after purchasing an additional 398,494 shares during the period. 94.94% of the stock is currently owned by hedge funds and other 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.