Equinix (NASDAQ:EQIX) Cut to “Moderate Buy” at Cfra Research

Equinix (NASDAQ:EQIX) was downgraded by Cfra Research from a “strong-buy” rating to a “moderate buy” rating in a note issued to investors on Thursday,Zacks.com reports.

EQIX has been the topic of a number of other reports. BMO Capital Markets downgraded Equinix from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $1,045.00 to $850.00 in a research note on Thursday. Wolfe Research lowered Equinix from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Citigroup raised their target price on Equinix from $970.00 to $990.00 and gave the company a “buy” rating in a report on Monday, May 5th. Barclays lifted their price objective on Equinix from $834.00 to $837.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 27th. Finally, Mizuho decreased their price objective on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a report on Friday, March 28th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, Equinix currently has a consensus rating of “Buy” and a consensus target price of $977.30.

Equinix Stock Up 5.3%

Shares of Equinix stock opened at $785.11 on Thursday. The stock has a 50-day moving average price of $867.26 and a 200 day moving average price of $881.19. The company has a market cap of $76.80 billion, a P/E ratio of 81.61, a P/E/G ratio of 0.97 and a beta of 0.97. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix has a 1 year low of $701.41 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the business earned $8.86 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, analysts expect that Equinix will post 33.1 EPS for the current fiscal year.

Insider Transactions at Equinix

In other Equinix news, insider Kurt Pletcher sold 127 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider now directly owns 1,842 shares of the company’s stock, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer now directly owns 9,615 shares of the company’s stock, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock worth $2,808,008 over the last 90 days. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Activest Wealth Management boosted its position in shares of Equinix by 121.4% during the first quarter. Activest Wealth Management now owns 31 shares of the financial services provider’s stock worth $25,000 after buying an additional 17 shares during the period. Pinney & Scofield Inc. bought a new stake in Equinix during the fourth quarter worth about $28,000. GKV Capital Management Co. Inc. bought a new stake in Equinix during the first quarter worth about $30,000. Saudi Central Bank bought a new stake in Equinix during the first quarter worth about $31,000. Finally, Quarry LP bought a new stake in Equinix in the first quarter valued at approximately $31,000. 94.94% of the stock is owned by institutional investors and hedge funds.

About Equinix

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.