Headquartered in Redwood City, California, Equinix, Inc. (EQIX) is a global digital infrastructure company operating data centers and providing interconnection services. With a market capitalization of $105.1 billion, the company operates across three segments: Americas, EMEA, and Asia-Pacific, providing secure colocation, cloud connectivity, and digital infrastructure to businesses worldwide.
Shares of this leading digital infrastructure company have outperformed the broader market over the past year. EQIX has gained 34.2% over this period, while the broader S&P 500 Index ($SPX) has climbed nearly 18.3%. Likewise, the stock has continued to outperform the index in 2026, rising 37.7% year-to-date, compared with the S&P 500’s 11.8% gain over the same period.
Compared with the Pacer Data & Infrastructure Real Estate ETF (SRVR), EQIX has also outperformed, as the ETF has declined marginally over the past year but gained 9.8% year-to-date.
On July 29, Equinix reported its Q2 FY2026 earnings, with shares falling 2.6% before rebounding 3.9% in the following session, as results beat estimates and the company raised its outlook. Revenue grew 16.3% to $2.63 billion, driven by strong underlying performance and one-time xScale fees, while monthly recurring revenue increased 10.9%. EPS rose 28.8% to $4.83, while AFFO per share increased 18.9% to $11.78.
Equinix raised its full-year 2026 revenue guidance to $10.21 billion to $10.29 billion, from $10.14 billion to $10.24 billion, and its AFFO per share guidance to $42.69 to $43.29, from $42.31 to $43.11. The company also raised its long-term 2027-2029 outlook, increasing its annual total revenue growth target to 10% to 13% from 7% to 10% and its annual capital expenditures target to $5 billion to $7 billion from $3 billion to $4 billion.
For the fiscal year ending in December 2026, analysts expect EQIX’s diluted EPS to decline marginally year-over-year to $38.23. However, EQIX has surpassed consensus EPS estimates in each of the past four quarters, which is impressive.
Based on the 34 analysts covering EQIX stock, the consensus rating is a “Strong Buy.” The rating is based on 24 “Strong Buys,” three “Moderate Buys,” and seven “Holds.”
The analyst configuration is more bullish than it was two months ago, with 23 “Strong Buy” recommendations.
On August 21, Bernstein analyst Madison Rezaei maintained a “Buy” rating on Equinix and raised the price target to $1,270 from $1,222.
Based on analysts’ estimates, EQIX’s mean price target of $1,230.53 implies a 16.6% upside, while the Street-high target of $1,400 represents a 32.7% premium.
