Equinix (NASDAQ:EQIX) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Equinix (NASDAQ:EQIX) from a hold rating to a sell rating in a research note released on Saturday morning.

Other analysts have also issued reports about the stock. Citigroup reiterated a “buy” rating on shares of Equinix in a research report on Thursday, December 11th. TD Cowen lifted their price objective on Equinix from $993.00 to $995.00 and gave the company a “buy” rating in a report on Thursday, October 30th. The Goldman Sachs Group lowered Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective on the stock. in a research note on Thursday, December 18th. Truist Financial increased their target price on Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equinix in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $952.05.

Equinix Stock Performance

NASDAQ EQIX opened at $783.86 on Friday. The company’s fifty day moving average is $768.05 and its two-hundred day moving average is $782.23. Equinix has a 52-week low of $701.41 and a 52-week high of $953.41. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $76.97 billion, a price-to-earnings ratio of 71.78, a P/E/G ratio of 1.25 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, topping the consensus estimate of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the firm earned $9.05 EPS. Equinix’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. Equities research analysts forecast that Equinix will post 33.1 EPS for the current year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Equinix’s dividend payout ratio is presently 171.79%.

Insider Buying and Selling at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,894 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.09, for a total value of $2,115,774.46. Following the transaction, the chief executive officer directly owned 12,366 shares in the company, valued at $9,040,658.94. The trade was a 18.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 50 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $777.58, for a total value of $38,879.00. Following the transaction, the director owned 17,782 shares in the company, valued at $13,826,927.56. The trade was a 0.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 8,704 shares of company stock worth $6,617,748. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Equinix

Several institutional investors have recently modified their holdings of EQIX. Campbell & CO Investment Adviser LLC boosted its holdings in Equinix by 21.1% during the second quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 67 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Equinix by 1.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock valued at $426,444,000 after buying an additional 7,409 shares during the last quarter. Gradient Investments LLC lifted its position in shares of Equinix by 19.4% during the 2nd quarter. Gradient Investments LLC now owns 24,684 shares of the financial services provider’s stock worth $19,635,000 after buying an additional 4,015 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Equinix by 19.4% in the 1st quarter. Focus Partners Wealth now owns 2,573 shares of the financial services provider’s stock worth $2,098,000 after buying an additional 418 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Equinix by 13.5% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 485,538 shares of the financial services provider’s stock worth $386,231,000 after buying an additional 57,630 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.