Equinix Stock Hits New 52-Week High (EQIX)

NEW YORK ( TheStreet) -- Equinix (Nasdaq: EQIX) hit a new 52-week high Thursday as it is currently trading at $122.42, above its previous 52-week high of $122.24 with 784,372 shares traded as of 3:39 p.m. ET. Average volume has been 696,100 shares over the past 30 days.

Equinix has a market cap of $5.5 billion and is part of the technology sector and telecommunications industry. Shares are up 19.9% year to date as of the close of trading on Wednesday.

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 72.3, above the average telecommunications industry P/E ratio of 69.4 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.

See all 52-week high stocks or get investment ideas from our investment research center.

If you liked this article you might like

How Hurricane Harvey Is Affecting Customers of Comcast, AT&T and Charter

What to Watch During the Week: Cramer's 'Mad Money' Recap (Friday 7/7/17)

This Huge Trend Is Boosting Shares of Cloud Infrastructure Company Equinix

Cramer: These Sectors Look Bullish (Part III)

Cramer: There Are Powerful Themes in Several Bull Markets