Equinix (NASDAQ:EQIX) Price Target Raised to $1,090.00

Equinix (NASDAQ:EQIX) had its price target boosted by equities research analysts at Truist Financial from $935.00 to $1,090.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 11.06% from the company’s current price.

Several other equities analysts have also recently weighed in on EQIX. Evercore ISI lifted their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. TD Cowen lifted 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. Stifel Nicolaus increased their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Barclays lifted their target price on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company upped their target price on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $962.56.

Equinix Trading Up 0.2 %

Shares of EQIX traded up $2.38 during midday trading on Friday, hitting $981.48. The stock had a trading volume of 362,786 shares, compared to its average volume of 533,021. The business has a 50-day simple moving average of $900.50 and a two-hundred day simple moving average of $831.45. The firm has a market cap of $94.70 billion, a P/E ratio of 88.48, a price-to-earnings-growth ratio of 2.52 and a beta of 0.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now directly owns 7,141 shares in the company, valued at approximately $5,862,689.59. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,754 shares of company stock valued at $11,666,756. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC boosted its position in Equinix by 12.9% in the third quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock valued at $22,880,000 after buying an additional 2,940 shares in the last quarter. Cim Investment Management Inc. increased its holdings in shares of Equinix by 31.4% during the third quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider’s stock worth $3,261,000 after buying an additional 879 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Equinix in the third quarter valued at approximately $582,000. Sanctuary Advisors LLC boosted its holdings in shares of Equinix by 133.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,714 shares of the financial services provider’s stock worth $16,587,000 after acquiring an additional 10,140 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its position in Equinix by 49.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider’s stock worth $1,414,000 after acquiring an additional 524 shares during the last quarter. 94.94% of the stock is 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.