Analyst Michael Rollins of Citi maintained a Buy rating on Equinix (EQIX – Research Report), retaining the price target of $990.00.
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Michael Rollins’s rating is based on Equinix’s strategic initiatives and growth prospects. The company is expected to provide updates on its strategy, market opportunities, and financial growth drivers at its upcoming Analyst Meeting. Equinix is anticipated to widen its target annual financial growth ranges for revenue and AFFOPS, reflecting a positive outlook on its financial performance.
Additionally, the expanding demand for AI workloads is seen as a significant opportunity for Equinix, both in its retail business and its xScale strategy. The potential for xScale NRR acceleration and AI benefits over the next few years supports a positive growth forecast. Equinix is also expected to maintain a strong EBITDA margin and continue its margin expansion over time, contributing to the Buy rating.
In another report released on June 17, MoffettNathanson also maintained a Buy rating on the stock with a $980.00 price target.
Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQIX in relation to earlier this year.