Stocks

Equinix (NASDAQ:EQIX) Stock Price Up 0.1% - Should You Buy?

Published November 29, 2024

Shares of Equinix, Inc. (NASDAQ:EQIX) experienced a slight increase of 0.1% during trading on Thursday. The stock reached a high of $994.03 before settling at $979.10. A total of approximately 459,636 shares traded hands, representing a 14% decrease compared to the average daily volume of 533,761 shares, with the stock previously closing at $978.26.

Growth Predictions from Wall Street Analysts

Several research analysts have shared optimistic outlooks for Equinix. Hsbc Global Res recently upgraded the stock from a "hold" rating to a "strong-buy" rating on October 4th. Mizuho raised their target price for Equinix from $873.00 to $971.00 and classified the stock as "outperform" on September 12th. Evercore ISI followed suit, increasing their target from $945.00 to $975.00 with an "outperform" rating on October 23rd. Wells Fargo & Company also lifted their price target on Equinix from $875.00 to $975.00, giving it an "overweight" rating on October 17th. Finally, The Goldman Sachs Group raised their price objective from $870.00 to $980.00 and marked it as a "buy" on September 26th. Overall, five analysts have rated the stock as a hold, fourteen have given a buy rating, and one has issued a strong buy rating. According to MarketBeat.com, the average rating for Equinix is "Moderate Buy" with an average price target of $952.88.

Equinix Stock Metrics

Equinix currently holds a market capitalization of $94.47 billion. The stock has a price-to-earnings (P/E) ratio of 88.29 and a price-to-earnings-growth (PEG) ratio of 2.51. Additionally, it shows a beta of 0.71, indicating lower volatility compared to the market. The quick ratio stands at 1.16, the current ratio at 1.16, and the debt-to-equity ratio at 1.12. The stock’s 50-day moving average price is $898.34, while the 200-day moving average price is $830.42.

Dividend Announcement from Equinix

Recently, Equinix announced a quarterly dividend that will be paid on December 11th. Shareholders on record as of November 13th will receive a dividend of $4.26 per share. This dividend amounts to an annualized figure of $17.04, yielding 1.74%. The ex-dividend date falls on November 13th, and Equinix's dividend payout ratio (DPR) currently stands at 153.65%.

Insider Activity at Equinix

In recent news regarding insider trading, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock on September 4th. The shares, sold at an average price of $823.97, brought in a total of over $5 million. After this sale, he now owns 7,680 shares valued at approximately $6.3 million, which reflects a 44.80% reduction in his ownership. Similar insider activity includes CAO Simon Miller who sold 569 shares on the same day at an average of $820.91, totaling about $467,000. Insiders have sold a total of 13,754 shares valued at nearly $11.67 million over the last ninety days, and company insiders currently own about 0.27% of the stock.

Institutional Trading Activity

Hedge funds have been active in trading Equinix stock lately. Plato Investment Management Ltd increased its position by 140.0% in the first quarter, acquiring a total of 132 shares with a valuation of $109,000 after purchasing an additional 77 shares last quarter. LRI Investments LLC also took a new stake in Equinix during this quarter, worth approximately $31,000. Atria Investments Inc grew its stake by 14.9%, leading to a total of 8,744 shares valued at $7.22 million. PGGM Investments advanced its holdings by 55.8% during this time, now owning 414,217 shares valued at roughly $341.87 million. Lastly, Cetera Investment Advisers boosted its holdings by 220.6%, acquiring 8,118 shares valued at about $6.7 million. Collectively, institutional investors and hedge funds hold 94.94% of Equinix’s stock.

Overview of Equinix

Equinix, Inc. is recognized as a global leader in digital infrastructure. Organizations utilize Equinix’s trusted platform to connect and interconnect essential infrastructure quickly and effectively. This enables companies to access key locations, partners, and opportunities to scale operations, speed up the delivery of digital services, and enhance customer experiences, all while promoting their sustainability initiatives.

Considering an Investment in Equinix?

If you are thinking about investing in Equinix, it is essential to compare it with other potential investments. Market analysts suggest keeping an eye on other stocks that have shown strong performance as potential alternatives. Currently, Equinix maintains a "Moderate Buy" rating, but there are recommendations for five other stocks deemed to have better investment outlooks. It's important to be mindful of market conditions, especially during downturns, and consider strategies to mitigate risk, such as analyzing beta values to protect investments.

Equinix, Stock, Investment