Equinix Stock Hits New 52-Week High (EQIX)

NEW YORK ( TheStreet) -- Equinix (Nasdaq: EQIX) hit a new 52-week high Wednesday as it is currently trading at $117.26, above its previous 52-week high of $117.25 with 515,716 shares traded as of 2:49 p.m. ET. Average volume has been 693,200 shares over the past 30 days.

Equinix has a market cap of $5.45 billion and is part of the technology sector and telecommunications industry. Shares are up 14.4% year to date as of the close of trading on Tuesday.

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 69.3, above the average telecommunications industry P/E ratio of 68.9 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 robust revenue growth, compelling growth in net income, good cash flow from operations, expanding profit margins 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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