Equinix (NASDAQ:EQIX) PT Lowered to $669.00

Equinix (NASDAQ:EQIX) had its price objective lowered by equities researchers at Barclays from $818.00 to $669.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential downside of 9.16% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Morgan Stanley lowered their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Wolfe Research raised shares of Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada boosted their target price on shares of Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Oppenheimer raised their target price on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $862.50.

Equinix Price Performance

NASDAQ EQIX traded down $5.64 on Wednesday, reaching $736.50. 277,877 shares of the stock traded hands, compared to its average volume of 556,957. Equinix has a 12 month low of $672.88 and a 12 month high of $914.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm’s fifty day simple moving average is $840.28 and its 200 day simple moving average is $802.23. The company has a market cap of $69.69 billion, a price-to-earnings ratio of 71.40, a P/E/G ratio of 1.78 and a beta of 0.58.

Insider Buying and Selling

In other Equinix news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the transaction, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equinix news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 729 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the transaction, the insider now owns 14,002 shares in the company, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,585 shares of company stock worth $3,818,268. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Equinix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goelzer Investment Management Inc. increased its stake in shares of Equinix by 0.3% in the fourth quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock worth $3,364,000 after purchasing an additional 13 shares during the period. Balentine LLC raised its stake in Equinix by 0.8% during the 3rd quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock valued at $1,240,000 after purchasing an additional 14 shares during the last quarter. Sage Mountain Advisors LLC boosted its holdings in Equinix by 3.9% in the 4th quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 14 shares during the period. DRW Securities LLC grew its position in Equinix by 2.7% in the 2nd quarter. DRW Securities LLC now owns 535 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 14 shares during the last quarter. Finally, Equitable Holdings Inc. increased its holdings in shares of Equinix by 0.5% during the 1st quarter. Equitable Holdings Inc. now owns 3,085 shares of the financial services provider’s stock worth $2,224,000 after purchasing an additional 14 shares during the period. 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.