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Equinix Has 88% ‘Buy’ Ratings ahead of Its Q3 2018 Earnings

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Oct. 26 2018, Updated 10:30 a.m. ET

Analysts’ views

Equinix’s (EQIX) impressive back-to-back quarterly performances and a healthy demand environment for data center services is reflected in analysts’ ratings for its stock. On October 23, eight of the 25 analysts gave EQIX a “strong buy” rating, 14 gave it a “buy” rating, and the remaining three gave the stock a “hold” rating. About 88.0% of these analysts were bullish on the stock, and the remaining 12.0% have a neutral position.

Wall Street’s target price of $500.77 for EQIX stock represents an upside of 21.7% from its current market price of $411.41. In 2017, the stock gained ~27.0%.

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Peers’ ratings

Analysts are bullish for the entire data center REIT industry and have given “buy” recommendations for Equinix’s peers Digital Realty (DLR), CyrusOne (CONE), CoreSite Realty (COR), and QTS Realty (QTS).

For Digital Realty, six of the 21 analysts provided a “strong buy” opinion, seven gave a “buy” rating, and the remaining eight have a “hold” stance. The target price of $128.00 represents a 13.7% increase from the current price of $112.54.

Four of the 19 analysts provided a “strong buy,” seven provided a “buy,” and the remaining eight have “hold” recommendations on CoreSite Realty. Analysts’ target price of $120.47 represents a 15.9% increase from the current price of $103.96.

For CyrusOne, seven of the 21 analysts provided a “strong buy” recommendation. Ten analysts have a “buy” stance, three provided a “hold” rating, and one analyst gave a “sell” rating. With a target price of $69.56, Wall Street expects a 12.9% increase from the current market price of $61.64.

QTS Realty (QTS) received “strong buy” recommendations from three of the 17 analysts covering its stock. Six analysts rated QTS as a “buy,” and eight analysts gave “hold” recommendations. The target price of $47.07 depicts Wall Street’s forecast of a 16.5% increase from the current market price of $40.40.

Equinix comprises ~4.6% of the First Trust Cloud Computing ETF (SKYY).

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