Equinix, Inc. (EQIX) is a leading digital infrastructure provider headquartered in Redwood City, California, offering extensive data center colocation and interconnection services worldwide. It operates a global platform that securely connects businesses, cloud services, networks, and content providers to enable seamless digital interactions.
Equinix supports enterprises in accelerating digital transformation by providing reliable, interconnected ecosystems that enhance application performance, network agility, and secure data exchange across diverse digital environments. The company has a market capitalization of $73.96 billion, which classifies it as a “large-cap” stock.
Equinix’s stock had reached a 52-week low of $701.41 back in April, but is up 7.4% from that level. Despite strong quarterly results, concerns about rising data center capital expenditures have weighed on the company’s stock, which has declined by 4.2% over the past three months. On the other hand, the Schwab U.S. REIT ETF (SCHH) has gained marginally over the same period.
Over the longer term, this underperformance persists. Over the past 52 weeks, the stock has dropped by 23.1%, while it is down 14.5% over the past six months. Contrarily, the Schwab U.S. REIT ETF has declined 7.3% over the past 52 weeks but gained 2.4% over the past six months. Equinix’s stock has been trading below its 50-day and 200-day moving averages since mid-November.
On Oct. 29, Equinix reported its third-quarter results for 2025, which matched or exceeded estimates. The company reported record annualized gross bookings of $394 million, up 25% year-over-year (YOY). Its revenues increased 5.2% from the prior year’s period to $2.32 billion, matching Street estimates.
This was predicated upon recurring revenues growing about 7.6% YOY to $2.22 billion. Equinix’s adjusted funds from operations (AFFO) rose 8.6% annually to $9.83 per share, which was higher than the $9.26 per share that Street analysts had expected. The stock rose 4.4% intraday on Oct. 30 on strong results.
We compare Equinix’s performance with that of another REIT, American Tower Corporation (AMT), which has declined 13.4% over the past 52 weeks and 14.7% over the past six months. Therefore, Equinix has been the clear underperformer over the past year.
Wall Street analysts are strongly bullish on Equinix’s stock. The stock has a consensus rating of “Strong Buy” from the 30 analysts covering it. The mean price target of $969.67 indicates a 28.7% upside compared to current levels. Moreover, the Street-high price target of $1,218 indicates a 61.7% upside.
