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 December 13, 2024, EQIX stock price declined to $965.00 with 366,796 million shares trading.

EQIX has a beta of 0.78, meaning it tends to be less sensitive to market movements. EQIX has a correlation of 0.17 to the broad based SPY ETF.

EQIX has a market cap of $93.11 billion. This is considered a Large Cap stock.

Last quarter Equinix reported $2 billion in Revenue and $9.05 earnings per share. This beat revenue expectation by $1 million and exceeded earnings estimates by $.35.

In the last 3 years, EQIX traded as high as $994.03 and as low as $494.89.

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

EQIX has underperformed the market in the last year with a price return of +21.3% while the SPY ETF gained +29.9%. However, in the short term, EQIX had mixed performance relative to the market. It has outperformed in the last 3 months, returning +11.2% vs +7.8% return in SPY. But in the last 2 weeks, EQIX shares have been beat by the market, returning -1.7% compared to an SPY return of +0.3%.

EQIX support price is $962.26 and resistance is $988.34 (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 shares will trade within this expected range on the day.