TD Cowen Issues Positive Forecast for Equinix (NASDAQ:EQIX) Stock Price

by · The Markets Daily

Equinix (NASDAQ:EQIX – Get Free Report) had its price objective increased by equities researchers at TD Cowen from $865.00 to $984.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target points to a potential upside of 7.36% from the stock’s previous close.

EQIX has been the subject of a number of other reports. Wells Fargo & Company raised their target price on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. BMO Capital Markets raised their target price on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. The Goldman Sachs Group raised their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $941.93.

Read Our Latest Report on EQIX

Equinix Price Performance

EQIX stock traded up $6.32 during midday trading on Thursday, hitting $916.54. The company’s stock had a trading volume of 403,890 shares, compared to its average volume of 528,048. Equinix has a 12 month low of $684.14 and a 12 month high of $943.02. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $86.99 billion, a price-to-earnings ratio of 92.36, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The company has a 50 day moving average of $866.57 and a two-hundred day moving average of $804.08.

Equinix (NASDAQ:EQIX – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the company earned $8.04 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts expect that Equinix will post 31.01 EPS for the current year.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the sale, the insider now directly owns 8,231 shares in the company, valued at approximately $7,531,365. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was 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 $5,862,689.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the sale, the insider now owns 8,231 shares of the company’s stock, valued at $7,531,365. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,906 shares of company stock worth $9,071,764. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Equinix

Several institutional investors and hedge funds have recently made changes to their positions in the company. CNB Bank raised its holdings in Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix in the second quarter worth about $30,000. LRI Investments LLC bought a new position in Equinix in the first quarter worth about $31,000. GHP Investment Advisors Inc. raised its holdings in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Finally, Fortitude Family Office LLC raised its holdings in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

About Equinix

(Get Free Report)

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.

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