Scotiabank Lowers Equinix (NASDAQ:EQIX) Price Target to $959.00

Equinix (NASDAQ:EQIX) had its price target reduced by investment analysts at Scotiabank from $965.00 to $959.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price objective would suggest a potential upside of 20.58% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Cowen restated a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. The Goldman Sachs Group cut shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective for the company. in a research note on Thursday, December 18th. Morgan Stanley assumed coverage on Equinix in a research report on Thursday, October 16th. They set an “overweight” rating and a $950.00 price objective for the company. UBS Group set a $959.00 target price on Equinix in a report on Wednesday. Finally, TD Cowen raised their price target on Equinix from $993.00 to $995.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $955.33.

Equinix Price Performance

EQIX stock traded down $5.96 during midday trading on Wednesday, hitting $795.36. 200,985 shares of the stock were exchanged, compared to its average volume of 529,395. The stock’s 50-day moving average price is $767.48 and its 200-day moving average price is $782.35. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market cap of $78.09 billion, a price-to-earnings ratio of 72.83, a PEG ratio of 1.23 and a beta of 1.05. Equinix has a fifty-two week low of $701.41 and a fifty-two week high of $953.41.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, beating analysts’ consensus estimates of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter last year, the business posted $9.05 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. Research analysts predict that Equinix will post 33.1 earnings per share for the current year.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 50 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $777.58, for a total transaction of $38,879.00. Following the completion of the transaction, the director owned 17,782 shares of the company’s stock, valued at $13,826,927.56. This represents a 0.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adaire Fox-Martin sold 2,894 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the transaction, the chief executive officer owned 12,366 shares in the company, valued at approximately $9,040,658.94. The trade was a 18.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,704 shares of company stock worth $6,617,748 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Equinix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC raised its holdings in shares of Equinix by 21.1% during the second quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock valued at $305,000 after acquiring an additional 67 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Equinix by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock worth $426,444,000 after purchasing an additional 7,409 shares in the last quarter. Focus Partners Wealth raised its stake in Equinix by 19.4% during the 1st quarter. Focus Partners Wealth now owns 2,573 shares of the financial services provider’s stock valued at $2,098,000 after purchasing an additional 418 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its stake in Equinix by 13.5% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 485,538 shares of the financial services provider’s stock valued at $386,231,000 after purchasing an additional 57,630 shares during the period. Finally, Hudson Bay Capital Management LP lifted its holdings in shares of Equinix by 5,346.3% in the second quarter. Hudson Bay Capital Management LP now owns 14,705 shares of the financial services provider’s stock valued at $11,697,000 after purchasing an additional 14,435 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Company Profile

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.