EQIX Stock Summary and Trading Ideas (Equinix | NASDAQ:EQIX)

Equinix operates 260 data centers in 71 markets worldwide. It generates 44% of total revenue in the Americas, 35% in Europe, the Middle East, and Africa, and 21% in Asia-Pacific. The firm has more than 10,000 customers, including 2,100 network providers, that are dispersed over five verticals: cloud and IT services, content providers, network and mobile services, financial services, and enterprise. About 70% of Equinix's revenue comes from renting space to tenants and related services, and more than 15% comes from interconnection. Equinix operates as a real estate investment trust.

Equinix trades on the NASDAQ stock market under the symbol EQIX.

As of April 26, 2024, EQIX stock price declined to $731.61 with 657,944 million shares trading.

EQIX has a beta of 1.19, meaning it tends to be more sensitive to market movements. EQIX has a correlation of 0.39 to the broad based SPY ETF.

EQIX has a market cap of $69.23 billion. This is considered a Large Cap stock.

In the last 3 years, EQIX stock traded as high as $914.93 and as low as $494.89.

The top ETF exchange traded funds that EQIX belongs to (by Net Assets): VNQ, VTI, VOO, SPY, VUG.

EQIX has underperformed the market in the last year with a price return of +5.2% while the SPY ETF gained +26.8%. EQIX has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -9.7% and -5.5%, respectively, while the SPY returned +4.5% and -1.9%, respectively.

EQIX support price is $727.84 and resistance is $748.86 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that EQIX stock will trade within this expected range on the day.