Equinix Inc. (EQIX): Today's Featured Technology Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Equinix ( EQIX) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 0.7%. By the end of trading, Equinix fell $2.43 (-1.3%) to $178.75 on average volume. Throughout the day, 978,185 shares of Equinix exchanged hands as compared to its average daily volume of 1,199,600 shares. The stock ranged in price between $178.17-$181.25 after having opened the day at $180.79 as compared to the previous trading day's close of $181.18. Other companies within the Technology sector that declined today were: Deltathree ( DDDC), down 20.6%, Alteva ( ALTV), down 17.4%, Perion Network ( PERI), down 14.3% and Kingtone Wirelessinfo Solution ( KONE), down 13.4%.

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. Equinix has a market cap of $9.0 billion and is part of the internet industry. Shares are down 12.1% year to date as of the close of trading on Friday. Currently there are 14 analysts that rate Equinix a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Equinix as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.

On the positive front, CSR ( CSRE), up 179.0%, Performance Technologies ( PTIX), up 33.0%, Phoenix New Media ( FENG), up 13.5% and ChannelAdvisor ( ECOM), up 12.2% , were all gainers within the technology sector with Cisco Systems ( CSCO) being today's featured technology sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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