Shares of Equinix (Nasdaq:EQIX) were gapping up Thursday morning with an open price 11.1% higher than Wednesday's closing price. The stock closed at $149.47 yesterday and opened today's trading at $165.99.
NEW YORK ( TheStreet) -- Shares of Equinix (Nasdaq: EQIX) were gapping up Thursday morning with an open price 11.1% higher than Wednesday's closing price. The stock closed at $149.47 Wednesday and opened today's trading at $165.99. The average volume for Equinix has been 1.1 million shares per day over the past 30 days. Equinix has a market cap of $6.89 billion and is part of the technology sector and telecommunications industry. Shares are up 47.4% year to date as of the close of trading on Wednesday. Equinix, Inc. provides data center services to protect and connect the information assets for the enterprises, financial services companies, and content and network providers primarily in the Americas, Europe, the Middle-East, Africa, and the Asia-Pacific. The company has a P/E ratio of 85.9, equal to the average telecommunications industry P/E ratio 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, impressive record of earnings per share growth, 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. Get more investment ideas from our investment research center.