Equinix (NASDAQ:EQIX) Stock Price Up 4.1% – Should You Buy?

Equinix, Inc. (NASDAQ:EQIX) shares rose 4.1% on Tuesday . The stock traded as high as $976.35 and last traded at $974.35. Approximately 1,977,322 shares changed hands during trading, an increase of 271% from the average daily volume of 533,316 shares. The stock had previously closed at $936.37.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several recent analyst reports. 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. Cfra reaffirmed a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. HSBC raised Equinix from a “hold” rating to a “buy” rating and raised their target price for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Stifel Nicolaus raised their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their target price on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average price target of $952.88.

Equinix Price Performance

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market cap of $94.01 billion, a PE ratio of 87.86, a PEG ratio of 2.41 and a beta of 0.71. The business has a fifty day moving average of $893.70 and a 200-day moving average of $827.82.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.75%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Buying and Selling

In related news, insider Meredith Williamson sold 576 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the sale, the director now directly owns 17,794 shares in the company, valued at $15,854,454. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,754 shares of company stock worth $11,666,756 in the last quarter. 0.27% of the stock is owned by insiders.

Institutional Trading of Equinix

Hedge funds have recently made changes to their positions in the stock. LRI Investments LLC bought a new stake in Equinix during the 1st quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Equinix in the 2nd quarter worth approximately $30,000. GHP Investment Advisors Inc. boosted its stake in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of Equinix by 50.0% in the 3rd 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. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares in 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.