Equinix Stock Hits New 52-Week High (EQIX)

NEW YORK ( TheStreet) -- Equinix (Nasdaq: EQIX) hit a new 52-week high Monday as it is currently trading at $107.07, above its previous 52-week high of $107 with 428,329 shares traded as of 12:25 p.m. ET. Average volume has been 633,300 shares over the past 30 days.

Equinix has a market cap of $4.97 billion and is part of the technology sector and telecommunications industry. Shares are up 3.5% year to date as of the close of trading on Friday.

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. The company has a P/E ratio of 63.1, above the average telecommunications industry P/E ratio of 62.7 and above the S&P 500 P/E ratio of 17.7.

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. You can view the full Equinix Ratings Report.

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