Equinix (NASDAQ:EQIX) Upgraded by Moffett Nathanson to Strong-Buy Rating

Moffett Nathanson upgraded shares of Equinix (NASDAQ:EQIX) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

A number of other brokerages also recently weighed in on EQIX. Barclays increased their price target on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Truist Financial lifted their price target on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Wells Fargo & Company lowered their price objective on shares of Equinix from $1,100.00 to $1,075.00 and set an “overweight” rating for the company in a research report on Tuesday. Scotiabank lifted their target price on Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 23rd. Finally, Stifel Nicolaus increased their price target on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix currently has an average rating of “Buy” and an average price target of $996.06.

Equinix Trading Down 0.5 %

NASDAQ EQIX opened at $933.27 on Wednesday. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The stock has a 50-day simple moving average of $939.33 and a 200 day simple moving average of $889.81. 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 company has a market capitalization of $90.05 billion, a PE ratio of 84.15, a P/E/G ratio of 2.18 and a beta of 0.72.

Insiders Place Their Bets

In related news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the transaction, the director now directly owns 17,794 shares in the company, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,801 shares of company stock valued at $15,530,564 in the last three months. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp raised its stake in Equinix by 1.4% in the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after buying an additional 81,941 shares during the period. Geode Capital Management LLC increased its holdings in shares of Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after acquiring an additional 33,277 shares during the last quarter. Principal Financial Group Inc. raised its stake in Equinix by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock valued at $1,827,847,000 after acquiring an additional 44,471 shares during the period. JPMorgan Chase & Co. lifted its holdings in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after purchasing an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Equinix by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider’s stock worth $1,107,860,000 after purchasing an additional 40,791 shares during the period. 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.