Equinix (NASDAQ:EQIX) Upgraded to Strong-Buy at Citizens Jmp

Equinix (NASDAQ:EQIX) was upgraded by stock analysts at Citizens Jmp to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their price target on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. 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. JMP Securities began coverage on Equinix in a research note on Monday. They set an “outperform” rating and a $1,200.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada raised their price target on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $997.53.

Equinix Trading Down 4.3 %

NASDAQ EQIX opened at $900.10 on Monday. The company has a market capitalization of $86.85 billion, a price-to-earnings ratio of 81.16, a price-to-earnings-growth ratio of 2.20 and a beta of 0.73. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The company’s fifty day moving average price is $944.51 and its two-hundred day moving average price is $883.61.

Insiders Place Their Bets

In related news, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the transaction, the executive vice president now owns 4,893 shares of the company’s stock, valued at $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 1,370 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the sale, the chief executive officer now owns 4,329 shares in the company, valued at $3,937,268.79. The trade was a 24.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,549 shares of company stock worth $18,036,455. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equinix

A number of hedge funds and other institutional investors have recently modified their holdings of EQIX. Financial Advocates Investment Management raised its holdings in shares of Equinix by 10.4% during the fourth quarter. Financial Advocates Investment Management now owns 943 shares of the financial services provider’s stock valued at $889,000 after acquiring an additional 89 shares during the period. State of Alaska Department of Revenue increased its position in Equinix by 2.5% in the 4th quarter. State of Alaska Department of Revenue now owns 57,759 shares of the financial services provider’s stock worth $54,459,000 after purchasing an additional 1,420 shares during the last quarter. Tyche Wealth Partners LLC bought a new position in Equinix during the fourth quarter valued at approximately $571,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Equinix by 43.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,980 shares of the financial services provider’s stock valued at $17,833,000 after purchasing an additional 5,753 shares during the last quarter. Finally, Spirit of America Management Corp NY boosted its stake in shares of Equinix by 4.5% during the 4th quarter. Spirit of America Management Corp NY now owns 7,610 shares of the financial services provider’s stock worth $7,175,000 after acquiring an additional 330 shares in the last quarter. Institutional investors and hedge funds 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.