Equinix (NASDAQ:EQIX) Now Covered by Analysts at Sanford C. Bernstein

Sanford C. Bernstein began coverage on shares of Equinix (NASDAQ:EQIX) in a research report report published on Thursday, Marketbeat Ratings reports. The firm issued an outperform rating and a $1,128.00 price target on the financial services provider’s stock.

Other analysts have also issued reports about the stock. BMO Capital Markets increased their price target on shares of Equinix from $925.00 to $1,050.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Zacks Research lowered Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Jefferies Financial Group increased their target price on Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Guggenheim boosted their price target on Equinix from $933.00 to $985.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, Stifel Nicolaus set a $1,075.00 price objective on Equinix in a research report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average target price of $1,006.91.

Equinix Trading Down 1.7%

Shares of EQIX stock opened at $953.00 on Thursday. The stock has a market cap of $93.63 billion, a P/E ratio of 69.31, a P/E/G ratio of 2.49 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix has a fifty-two week low of $701.41 and a fifty-two week high of $992.90. The business has a fifty day simple moving average of $848.61 and a 200-day simple moving average of $806.07.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the firm earned $7.92 earnings per share. Equinix’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts forecast that Equinix will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be given a dividend of $5.16 per share. This is a boost from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a yield of 2.2%. Equinix’s dividend payout ratio is currently 150.11%.

Insider Transactions at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 2,716 shares of Equinix stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $965.15, for a total transaction of $2,621,347.40. Following the transaction, the chairman directly owned 12,594 shares of the company’s stock, valued at $12,155,099.10. The trade was a 17.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 2,051 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the completion of the sale, the chief financial officer directly owned 26,373 shares of the company’s stock, valued at $21,208,375.41. The trade was a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,602 shares of company stock valued at $11,369,645 in the last three months. 0.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EQIX. Campbell & CO Investment Adviser LLC increased its position 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 worth $305,000 after acquiring an additional 67 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake 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 valued at $426,444,000 after purchasing an additional 7,409 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after purchasing an additional 588,967 shares during the last quarter. Chilton Capital Management LLC raised its position in shares of Equinix by 5.1% in the 3rd quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider’s stock valued at $28,908,000 after purchasing an additional 1,805 shares in the last quarter. Finally, Foresight Group Ltd Liability Partnership raised its position in shares of Equinix by 10.0% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider’s stock valued at $20,425,000 after purchasing an additional 2,378 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix News Roundup

Here are the key news stories impacting Equinix this week:

• Positive Sentiment: Moody’s upgraded Equinix’s senior unsecured rating to Baa1 with a stable outlook — a credit-quality improvement that should lower perceived funding risk and help borrowing costs over time. Moody’s Upgrade
• Positive Sentiment: Sanford C. Bernstein initiated coverage with an “outperform” and $1,128 price target (roughly ~18% above the recent quote), adding positive analyst momentum; other firms (JPMorgan, Truist) have also raised targets recently, supporting buy-side interest. Bernstein Coverage
• Positive Sentiment: Equinix raised its quarterly dividend to $5.16 (annualized $20.64), which is supportive for income-focused holders despite a high payout ratio; the raise can buoy demand from yield-seeking investors. Dividend Announcement
• Neutral Sentiment: Equinix closed an underwritten offering of $1.5B in senior notes: $700M 4.400% due 2031 and $800M 4.700% due 2033. This boosts liquidity/capital for growth but adds long-term debt — impact depends on how proceeds are deployed. Debt Offering
• Neutral Sentiment: Short-interest data reported for March appears erroneous (zeros/NaN and a 0.0-day ratio). Treat today’s short-interest readings with caution until corrected data are posted.
• Negative Sentiment: Insider selling: Chairman Charles Meyers sold 2,716 shares (~$2.6M). Multiple executive sales were reported, which can spook investors despite being potentially routine tax/planned sales. Insider Sale Filing Analysis of Insider Sales

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.