#1 - Equinix (NASDAQ:EQIX)
Equinix (NASDAQ: EQIX) is the world’s largest digital infrastructure company. That’s a technical way of saying the company is one of the biggest owners of data centers. These are facilities that securely connect networks and share data traffic.
Data centers have been in high demand since the launch of the internet. And that demand is accelerating as companies race to scale into artificial intelligence (AI) applications.
If you had invested in EQIX stock in 2004, you’d be sitting on a total return of 3,844%. Part of that total return comes from the company’s dividend. The 1.96% yield isn’t considered high yield, but the stock currently pays out over $17 per share on an annualized basis. EQIX stock has delivered a total return of 76.13% in the last five years, but the growth has been slower in the last year.
However, since the company reported earnings in August, analysts have been raising their price targets with Mizuho recently raising its price target on EQIX stock to $971. That's a gain of nearly 10% from the stock’s closing price on September 13, 2023.
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.
- Current Price
- $904.46
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 15 Buy Ratings, 5 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $945.38 (4.5% Upside)
