JMP Securities Reiterates “Market Outperform” Rating for Equinix (NASDAQ:EQIX)

Equinix (NASDAQ:EQIX)‘s stock had its “market outperform” rating restated by research analysts at JMP Securities in a research report issued on Thursday,Benzinga reports. They presently have a $1,200.00 price objective on the financial services provider’s stock. JMP Securities’ target price indicates a potential upside of 28.53% from the stock’s previous close.

EQIX has been the topic of several other research reports. Barclays increased their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. 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 report on Wednesday, December 11th. BMO Capital Markets raised their price target on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Evercore ISI raised their price target 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 analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Equinix currently has a consensus rating of “Buy” and an average price target of $994.82.

Equinix Price Performance

EQIX stock opened at $933.60 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The firm’s fifty day moving average is $935.90 and its 200 day moving average 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 (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. Research analysts predict 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 firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the sale, the director now directly owns 17,794 shares in the company, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 3,184 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the sale, the chief financial officer now owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,801 shares of company stock valued at $15,530,564 in the last three months. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Institutional investors and hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV grew its stake in shares of Equinix by 270.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,984 shares of the financial services provider’s stock worth $9,414,000 after acquiring an additional 7,290 shares during the period. Itau Unibanco Holding S.A. raised its holdings in shares of Equinix by 25.8% during the fourth quarter. Itau Unibanco Holding S.A. now owns 112 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 23 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Equinix by 33.5% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 22,700 shares of the financial services provider’s stock valued at $21,404,000 after purchasing an additional 5,700 shares during the last quarter. Guardian Capital LP raised its holdings in shares of Equinix by 29.5% during the fourth quarter. Guardian Capital LP now owns 19,463 shares of the financial services provider’s stock valued at $18,351,000 after purchasing an additional 4,439 shares during the last quarter. Finally, Utah Retirement Systems raised its holdings in shares of Equinix by 1.9% during the fourth quarter. Utah Retirement Systems now owns 15,964 shares of the financial services provider’s stock valued at $15,052,000 after purchasing an additional 300 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.