The Goldman Sachs Group Raises Equinix (NASDAQ:EQIX) Price Target to $980.00

Equinix (NASDAQ:EQIX) had its target price hoisted by The Goldman Sachs Group from $870.00 to $980.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a buy rating in a research note on Tuesday, August 13th. TD Cowen increased their price objective on Equinix from $859.00 to $865.00 and gave the stock a buy rating in a report on Thursday, August 8th. Mizuho boosted their target price on Equinix from $873.00 to $971.00 and gave the company an outperform rating in a research note on Thursday, September 12th. Wells Fargo & Company raised shares of Equinix from an equal weight rating to an overweight rating and raised their price target for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Finally, Barclays boosted their price objective on shares of Equinix from $669.00 to $671.00 and gave the stock an equal weight rating in a research report on Thursday, May 30th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Equinix presently has a consensus rating of Moderate Buy and an average price target of $891.57.

Equinix Stock Up 0.4 %

Shares of Equinix stock opened at $882.69 on Thursday. Equinix has a 1 year low of $677.80 and a 1 year high of $914.93. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $83.77 billion, a P/E ratio of 88.53, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. The business has a 50-day moving average of $828.80 and a two-hundred day moving average of $792.65.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.16 billion. During the same period in the previous year, the company posted $8.04 earnings per share. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that Equinix will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.93%. Equinix’s dividend payout ratio is currently 170.91%.

Insider Activity at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Equinix news, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,043 shares of company stock worth $8,282,119. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Institutional investors have recently added to or reduced their stakes in the company. CNB Bank lifted its holdings in shares of Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares in the last quarter. LRI Investments LLC bought a new stake in Equinix in the 1st quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix in the 2nd quarter valued at about $30,000. Rise Advisors LLC bought a new position in shares of Equinix during the first quarter worth approximately $39,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Equinix in the second quarter valued at approximately $36,000. 94.94% of the stock is currently owned by institutional investors.

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.