Equinix (NASDAQ:EQIX) Given New $762.00 Price Target at Morgan Stanley

Equinix (NASDAQ:EQIX) had its price target reduced by research analysts at Morgan Stanley from $767.00 to $762.00 in a report released on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential downside of 7.72% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Wolfe Research upgraded Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Royal Bank of Canada boosted their price objective on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Wells Fargo & Company boosted their price objective on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. TheStreet upgraded Equinix from a “c+” rating to a “b-” rating in a report on Wednesday, November 29th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 price target on shares of Equinix in a research note on Wednesday, March 13th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $868.72.

Equinix Stock Performance

NASDAQ EQIX traded up $10.45 during trading on Thursday, reaching $825.76. 475,011 shares of the company’s stock were exchanged, compared to its average volume of 555,698. The business has a 50 day moving average price of $849.93 and a 200-day moving average price of $798.15. The stock has a market capitalization of $78.13 billion, a P/E ratio of 79.93, a PEG ratio of 1.91 and a beta of 0.59. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. Equinix has a fifty-two week low of $672.88 and a fifty-two week high of $914.93.

Insider Transactions at Equinix

In other news, insider Michael Earl Campbell sold 2,199 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $799.92, for a total transaction of $1,759,024.08. Following the completion of the transaction, the insider now directly owns 14,067 shares in the company, valued at $11,252,474.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Michael Earl Campbell sold 2,199 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $799.92, for a total value of $1,759,024.08. Following the completion of the sale, the insider now directly owns 14,067 shares in the company, valued at $11,252,474.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 729 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the sale, the insider now owns 14,002 shares of the company’s stock, valued at $11,661,425.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,282 shares of company stock worth $14,788,771. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Equinix

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Equinix by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 12,265,174 shares of the financial services provider’s stock worth $9,878,248,000 after purchasing an additional 33,992 shares in the last quarter. State Street Corp lifted its position in Equinix by 1.4% in the 2nd quarter. State Street Corp now owns 6,118,844 shares of the financial services provider’s stock valued at $4,796,807,000 after acquiring an additional 85,286 shares in the last quarter. Cohen & Steers Inc. lifted its position in Equinix by 0.5% in the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock valued at $2,087,096,000 after acquiring an additional 13,988 shares in the last quarter. Geode Capital Management LLC lifted its position in Equinix by 1.2% in the 1st quarter. Geode Capital Management LLC now owns 2,004,008 shares of the financial services provider’s stock valued at $1,441,837,000 after acquiring an additional 23,150 shares in the last quarter. Finally, Norges Bank bought a new position in Equinix in the 4th quarter valued at about $1,574,132,000. Institutional investors own 94.94% of the company’s stock.

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.