TD Securities Boosts Equinix (NASDAQ:EQIX) Price Target to $850.00

Equinix (NASDAQ:EQIX) had its price target boosted by TD Securities from $800.00 to $850.00 in a research report released on Thursday morning, Analyst Ratings Network reports. TD Securities currently has a hold rating on the financial services provider’s stock.

Several other research analysts have also recently commented on the stock. The Goldman Sachs Group raised their target price on shares of Equinix from $830.00 to $920.00 and gave the stock a buy rating in a report on Thursday, June 17th. They noted that the move was a valuation call. Credit Suisse Group decreased their target price on shares of Equinix from $932.00 to $907.00 and set an outperform rating for the company in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Equinix from $861.00 to $895.00 and gave the stock an overweight rating in a report on Thursday. Mizuho raised their target price on shares of Equinix from $750.00 to $800.00 and gave the stock a buy rating in a report on Wednesday, April 21st. Finally, Wolfe Research initiated coverage on shares of Equinix in a report on Thursday, March 18th. They issued an outperform rating for the company. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $864.48.

NASDAQ:EQIX opened at $779.32 on Thursday. Equinix has a twelve month low of $586.73 and a twelve month high of $839.77. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.55 and a current ratio of 1.55. The firm’s 50-day simple moving average is $748.30. The company has a market cap of $69.81 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 2.00 and a beta of 0.28.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, April 28th. The financial services provider reported $1.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $6.03 by ($4.29). Equinix had a net margin of 6.62% and a return on equity of 5.85%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the business posted $6.21 EPS. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities analysts forecast that Equinix will post 24.41 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 16th. Investors of record on Wednesday, May 19th were given a dividend of $2.87 per share. This represents a $11.48 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, May 18th. Equinix’s dividend payout ratio (DPR) is currently 46.37%.

In other Equinix news, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction on Thursday, May 13th. The shares were sold at an average price of $711.35, for a total transaction of $711,350.00. Following the sale, the chief financial officer now owns 22,083 shares in the company, valued at $15,708,742.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles J. Meyers sold 5,051 shares of Equinix stock in a transaction on Monday, June 7th. The stock was sold at an average price of $795.42, for a total transaction of $4,017,666.42. Following the sale, the chief executive officer now owns 8,815 shares in the company, valued at approximately $7,011,627.30. The disclosure for this sale can be found here. Insiders have sold 16,501 shares of company stock worth $13,019,508 in the last ninety days. 13.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Moseley Investment Management Inc. boosted its stake in Equinix by 3.6% during the first quarter. Moseley Investment Management Inc. now owns 433 shares of the financial services provider’s stock worth $294,000 after buying an additional 15 shares in the last quarter. Nvwm LLC boosted its stake in shares of Equinix by 32.0% in the 4th quarter. Nvwm LLC now owns 66 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 16 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of Equinix by 1.8% in the 4th quarter. Cetera Advisors LLC now owns 979 shares of the financial services provider’s stock valued at $699,000 after purchasing an additional 17 shares in the last quarter. WealthStone Inc. boosted its stake in shares of Equinix by 3.1% in the 1st quarter. WealthStone Inc. now owns 568 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 17 shares in the last quarter. Finally, Altman Advisors Inc. boosted its stake in shares of Equinix by 1.4% in the 4th quarter. Altman Advisors Inc. now owns 1,341 shares of the financial services provider’s stock valued at $958,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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