Equinix (NASDAQ:EQIX) had its target price upped by Barclays from $821.00 to $876.00 in a research report sent to investors on Thursday morning, The Fly reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on the stock. Raymond James upgraded shares of Equinix from a market perform rating to an outperform rating and set a $835.00 target price for the company in a research note on Thursday. Deutsche Bank increased their price objective on shares of Equinix from $750.00 to $760.00 and gave the company a buy rating in a research note on Monday, July 20th. BMO Capital Markets increased their price objective on shares of Equinix from $707.00 to $745.00 and gave the company an outperform rating in a research note on Thursday, May 7th. Wells Fargo & Co increased their price objective on shares of Equinix from $745.00 to $790.00 and gave the company an overweight rating in a research note on Friday, July 10th. Finally, Oppenheimer initiated coverage on shares of Equinix in a research note on Monday, June 1st. They issued a buy rating and a $730.00 price objective for the company. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Equinix has an average rating of Buy and an average target price of $765.16.

NASDAQ:EQIX traded up $7.53 during trading hours on Thursday, hitting $785.48. 334,613 shares of the company traded hands, compared to its average volume of 322,238. The stock has a market capitalization of $67.50 billion, a price-to-earnings ratio of 136.13, a P/E/G ratio of 2.47 and a beta of 0.41. Equinix has a twelve month low of $477.87 and a twelve month high of $787.70. The firm has a 50-day moving average of $714.15 and a 200 day moving average of $653.86. The company has a current ratio of 1.55, a quick ratio of 1.26 and a debt-to-equity ratio of 1.24.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, July 29th. The financial services provider reported $1.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.40 by ($3.88). The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. Equinix had a net margin of 8.69% and a return on equity of 5.43%. Equinix’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.69 earnings per share. Equities research analysts predict that Equinix will post 21.55 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, August 19th will be given a dividend of $2.66 per share. This represents a $10.64 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Tuesday, August 18th. Equinix’s dividend payout ratio (DPR) is currently 46.65%.

In other Equinix news, insider Brandi Galvin Morandi sold 1,363 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $672.47, for a total transaction of $916,576.61. Following the sale, the insider now owns 19,626 shares of the company’s stock, valued at approximately $13,197,896.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Simon Miller sold 950 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $697.18, for a total transaction of $662,321.00. Following the sale, the chief accounting officer now directly owns 1,034 shares in the company, valued at approximately $720,884.12. The disclosure for this sale can be found here. Insiders have sold a total of 5,041 shares of company stock valued at $3,437,707 in the last quarter. 0.51% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Comerica Bank raised its position in shares of Equinix by 4.3% in the 2nd quarter. Comerica Bank now owns 22,675 shares of the financial services provider’s stock valued at $16,678,000 after acquiring an additional 940 shares during the period. Lincoln National Corp raised its position in shares of Equinix by 82.6% in the 2nd quarter. Lincoln National Corp now owns 650 shares of the financial services provider’s stock valued at $456,000 after acquiring an additional 294 shares during the period. Fox Run Management L.L.C. raised its position in shares of Equinix by 12.0% in the 2nd quarter. Fox Run Management L.L.C. now owns 457 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 49 shares during the period. Flagship Harbor Advisors LLC raised its position in shares of Equinix by 19.2% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 199 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 32 shares during the period. Finally, Insight Wealth Strategies LLC raised its position in shares of Equinix by 10.6% in the 2nd quarter. Insight Wealth Strategies LLC now owns 988 shares of the financial services provider’s stock valued at $694,000 after acquiring an additional 95 shares during the period. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

About Equinix

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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