#4 - Equinix (NASDAQ:EQIX)
Demand for artificial intelligence applications is fueling the need for more data centers. That’s the bullish thesis for owning Equinix (NASDAQ: EQIX). The company owns and operates over 260 data centers in over 30 countries and six continents. It’s important to understand that Equinix benefits from the need for data centers through a diverse customer base that spans financial services, health care, manufacturing firms, online retailers and banks.
However, the catalyst heading into 2025 is the company’s joint venture that will allow the company to expand into the hyperscale space, an area where the company has been absent. This will increase the top line which is already growing impressively. However, it’s also likely to give earnings a boost which, while growing impressively, have not grown as impressively as analysts have forecasted.
That deal is one reason that analysts have been raising their price targets for EQIX stock prior to the company’s earnings report on October 30, 2024.
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
- $897.37
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 15 Buy Ratings, 5 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $944.63 (5.3% Upside)
