(EQIX - Get Report)
offers businesses the expertise to connect with partners and customers around the world through a global platform of high performance data centers, containing dynamic ecosystems and the broadest choice of networks. Equinix operates in 38 strategic markets across the Americas, EMEA and Asia-Pacific and continually invests in expanding its platform to power customer growth.
Of the 25 analysts covering the stock, 72% recommend a buy and 24% rate a hold. Analysts have average 12-month price target of $119.06 for the stock, about 18% higher than the current price, according to a
Quarterly net revenue was up 26% year-over-year in the third quarter. Revenue grew to $417.6 million from $330.3 million in the same quarter prior year. Net income increased to $20.3 million, or 20 cents, up 83% from the prior year.
Total revenue outlook for fiscal 2011 is expected greater than $1.6 billion. Adjusted EBITDA for the year is seen to be over $730 million. Capital expenditure for 2011 is projected between $645 million and $665 million, comprising of approximately $115 million of ongoing capital expenditure and $530 to $550 million for expansion capital expenditure.
Total revenue guidance for full year 2012 is projected to top $1.9 billion. Adjusted EBITDA is expected to be greater than $850 million. Capital expenditure for 2012 is seen ranging from $700 million to $800 million, comprising of approximately $120 million of ongoing capital expenditure and $580 to $680 million for expansion capital expenditures.
In Nov. 2011, EQIX opened the first phase of its second International Business Exchange data center called HK2, primarily to meet the growing demand for premium collocation and interconnection data center services, principally from financial services organizations and cloud service providers operating in the city of Hong Kong.