Equinix Inc. (EQIX): Today's Featured Technology Winner
Equinix (EQIX) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day down 1.9%. By the end of trading, Equinix rose 58 cents (0.6%) to $99.49 on average volume. Throughout the day, 618,702 shares of Equinix exchanged hands as compared to its average daily volume of 708,800 shares. The stock ranged in a price between $98.39-$100.36 after having opened the day at $99.38 as compared to the previous trading day's close of $98.91. Other companies within the Technology sector that increased today were: VirnetX (VHC), up 17.7%, Analysts International (ANLY), up 15.8%, Towerstream Corporation (TWER), up 15.2%, and THQ (THQI), up 13.5%. Equinix, Inc. provides data center services for the protection and connection of information assets to enterprises, financial service companies, and content and network service providers worldwide. Equinix has a market cap of $4.65 billion and is part of the telecommunications industry. The company has a P/E ratio of 59.1, above the average telecommunications industry P/E ratio of 58.7 and above the S&P 500 P/E ratio of 17.7. Shares are up 21.7% year to date as of the close of trading on Friday. Currently there are 15 analysts that rate Equinix a buy, no analysts rate it a sell, and five rate it a hold. TheStreet Ratings rates Equinix as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, robust revenue growth, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated.
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