Movement Alert|Equinix Overnight Rise 3.07%, Investment Bank Raises Target Price Following Strong Q2 Earnings Beat

Market Focus08-06 10:58

On August 6, Equinix rose 3.07% overnight, trading at $1,088.58/share, with turnover of $217,700. The movement was driven by RBC Capital raising its price target on Equinix from $1,125 to $1,225 while maintaining an Outperform rating, following the company's strong Q2 results.

Equinix reported Q2 adjusted FFO of $11.78 per diluted share, up 18.87% year-over-year, beating the consensus estimate of $11.35 by approximately 4.6%. Revenue rose to $2.625 billion from $2.26 billion a year earlier, exceeding the $2.579 billion analyst projection. The company also raised its full-year guidance, now expecting revenue of $10.205 billion to $10.285 billion and adjusted FFO of $42.69 to $43.29 per share, both above prior outlooks.

Multiple analysts have maintained bullish stances, with an average buy rating and a mean price target of $1,223.83 according to FactSet. Cantor Fitzgerald, BNP Paribas, and Jefferies have also recently adjusted targets upward, reflecting broad institutional confidence in the data center REIT's growth trajectory amid surging global AI and cloud infrastructure demand.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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