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

Equinix, Inc. (NASDAQ:EQIX) experienced a slight increase of 0.1% in its share price during the trading session on Friday. The stock reached a peak value of $981.89 before settling at $974.48, which was slightly above its previous closing price of $973.80. However, trading volume was significantly lower than average, with only 53,581 shares exchanged, representing a decline of 90% from the typical volume of 528,827 shares.

Analysts Set New Price Targets

Equities analysts have recently expressed their views on Equinix shares. Notably, HSBC has upgraded Equinix from a "hold" to a "buy" rating, increasing the price target from $865 to $1,000. Deutsche Bank has also raised its price target, increasing it from $880 to $910 while maintaining a "buy" rating. Similarly, The Goldman Sachs Group has elevated its price objective from $870 to $980, labeling the stock as a "buy." Scotiabank increased its target for the stock from $954 to $985 and classified it under a "sector outperform" rating. On the other hand, Cfra has reaffirmed a "hold" rating. Overall, 5 analysts have rated the stock as a hold, 14 as a buy, and 1 as a strong buy. According to MarketBeat data, the consensus rating stands at "Moderate Buy" with an average target price set at $962.56.

Equinix Stock Performance

The performance metrics for Equinix point to a 50-day moving average of $909.18 and a 200-day moving average of $837.52. The company has a debt-to-equity ratio of 1.12, and both its current and quick ratios stand at 1.16. With a market capitalization of $94.15 billion, the stock has a P/E ratio of 87.87 and a P/E/G ratio of 2.48, along with a beta of 0.72.

Equinix Announces Dividend

Equinix has recently announced a quarterly dividend, which is scheduled for payout on December 11th. Stockholders who are on record as of November 13th will receive a dividend of $4.26. This amounts to an annualized dividend of $17.04, reflecting a dividend yield of 1.75%. The ex-dividend date is set for November 13th. It's important to note that Equinix’s payout ratio currently sits at 153.65%.

Insider Buying and Selling

In recent insider activity, EVP Raouf Abdel sold 1,022 shares of Equinix on November 8th at an average price of $923.56, totaling approximately $943,878.32. This sale reduced his holding to 4,893 shares valued at around $4.52 million, indicating a decrease of 17.28% in his position. Additionally, insider Brandi Galvin Morandi sold 863 shares at an average price of $915.00, worth about $789,645.00, which resulted in a 9.49% decrease in her holdings. Over the past 90 days, insiders have sold a total of 9,262 shares valued at approximately $8.64 million, with corporate insiders holding 0.27% of the stock.

Hedge Funds Weigh In On Equinix

Recent changes to hedge fund positions in Equinix show a significant surge, particularly from UBS AM, which increased its stake by 302.7% during the third quarter, acquiring an additional 813,666 shares to total 1,082,455 shares valued at $960.82 million. Pathway Financial Advisers LLC saw its holdings grow by an impressive 89,348.4%, gaining 398,494 shares to reach 398,940 shares worth $354.11 million. Other notable increases include Adelante Capital Management, which boosted its position by 202.3%, and Principal Financial Group, which added 238,883 shares, increasing its ownership by 14.5%. Institutional investors and hedge funds collectively own around 94.94% of Equinix stock.

Equinix Company Profile

Equinix (NASDAQ: EQIX) is recognized globally as a leading digital infrastructure company. It provides a trusted platform that enables businesses to connect and integrate essential infrastructure quickly. Equinix empowers organizations to tap into critical resources, partnerships, and solutions necessary for rapid digital growth while also supporting their goals for sustainability.

Looking Ahead: Should You Invest in Equinix?

If you are considering investing in Equinix, it's crucial to gather insights about its current market standing. Market analysts are keeping a close watch on several stocks they recommend as potential better investments compared to Equinix. Despite the overall "Moderate Buy" consensus on Equinix, there are stocks that analysts believe offer greater potential returns.

Equinix, stocks, investment