Why Equinix Stock Was Swooning This Week
The data center industry is standing in front of major expansion due to the unbending popularity of artificial intelligence (AI). Despite that, top sector name (NASDAQ: EQIX) has been having a rough few days on the stock exchange of late, especially following its analyst day event on Wednesday.
All told, according to data compiled by S&P Global Market Intelligence, week-to-date as of Thursday night, the company's share price was down by almost 16%.
No investor likes to hear that one of their investments might experience a slump in its growth rates. Yet that's exactly what happened with Equinix; on analyst day, it proffered guidance for its adjusted funds from operations (AFFO), the key profitability line item for real estate investment trusts (REITs) like itself. Management is forecasting 5% to 9% annual growth from 2025 through 2029.
Source Fool.com
Equinix Inc. Stock
With 37 Buy predictions and not a single Sell prediction Equinix Inc. is an absolute favorite of our community.
With a target price of 878 € there is a slightly positive potential of 19.55% for Equinix Inc. compared to the current price of 734.4 €.
