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Equinix Inc - Stock Quote EQIX

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Morningstar's Equinix Inc Stock Analysis

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Equinix Delivers on Q1 Expectations While Business Tailwinds Persist

Matthew Dolgin, CFA Equity Analyst

Analyst Note

| Matthew Dolgin, CFA |

Equinix’s first quarter was good, delivering the strong sales growth to which we’ve become accustomed. Equinix is perfectly positioned for the ongoing digital transformation of businesses globally and the greater needs they have for data and interconnection. With another record quarter of net bookings and momentum picking up in the relatively newer Equinix Metal and Equinix Fabric offerings, Equinix raised its 2022 sales outlook by more than 1%, though half of the increase is the result of the recent MainOne acquisition that expanded Equinix’s presence into Africa. After adjusting our 2022 forecast but making no material changes to our long-term sales or profit projections, we raise our fair value estimate to $560 from $550.

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Equinix Inc's Company Profile

Business Description

Equinix is a retail provider of data centers, enabling hundreds of enterprise tenants to house their servers and networking equipment in a colocated environment. Tenants can then connect with each other, cloud service providers, and telecom networks. Equinix operates 240 data centers in 66 markets worldwide and owns just less than half of them. The firm has roughly 10,000 customers, including 2,000 networks, that are dispersed over five verticals: Cloud and IT Services, Content Providers, Network and Mobile Services, Financial Services, and Enterprise. About 70% of Equinix's revenue comes from renting space to tenants and related services, and more than 15% comes from connecting customers with each other. Equinix operates as a real estate investment trust.

One Lagoon Drive
Redwood City, CA, 94065
T +1 650 598-6000
Sector Real Estate
Industry REIT - Specialty
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Hard Assets
Employees 10,944

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