Equinix, Inc. (REIT) (NASDAQ:EQIX) is among the top gainers of the stock market today, skyrocketing 2.71% or (17.25 points) to $653 from its previous close of $635.75. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 131219 contracts so far this session. EQIX shares had a relatively better volume day versus average trading capacity of 378.96 thousand shares, but with a 84.87 million float and a 5.3% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for EQIX stock indicates that the average analyst price target is $629.59 per share. This means the stock has a potential decrease of -3.58% from where the EQIX share price has been trading recently.
During the recent trading session for Equinix, Inc. (REIT) (NASDAQ:EQIX), the company witnessed their stock rise $45.72 over a week and surge $56.6 from the price 20 days ago. When compared to their established 52-week high of $652.82, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/14/20. The recent low of $417.25 stood for a 2.6% since 02/27/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.65 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Equinix, Inc. (REIT), the two-week RSI stands at 80.01. This figure suggests that EQIX stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current EQIX readings is similarly very revealing as it has a stochastic reading of 97.77% at this stage. This figure means that EQIX share price today is being oversold.
Technical chart claims that Equinix, Inc. (REIT) (EQIX) would settle between $644.13/share to $652.5/share level. However, if the stock price goes below the $619.68 mark, then the market for Equinix, Inc. (REIT) becomes much weaker. If that happens, the stock price might even plunge as low as $603.61 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 19.64. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Argus, assumed coverage of EQIX assigning Buy rating, according to their opinion released on June 03. Berenberg, analysts launched coverage of Equinix, Inc. (REIT) (NASDAQ:EQIX) stock with a Buy recommendation, according to their flash note issued to investors on January 08. Analysts at Jefferies released an upgrade from Hold to Buy for the stock, in a research note that dated back to December 10.
EQIX equity has an average rating of 1.72, with the figure leaning towards a bullish end. 25 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 23 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 23 analysts rated Equinix, Inc. (REIT) (NASDAQ:EQIX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, EQIX stock price is currently trading at 80.78X forward 12-month Consensus EPS estimates, and its P/E ratio is 106.1 while for the average stock in the same group, the multiple is 79.8. Equinix, Inc. (REIT) current P/B ratio of 6.1 means it is trading at a discount against its industry’s 7.8.
Equinix, Inc. (REIT) (EQIX)’s current-quarter revenues are projected to climb by nearly 6.9% to hit $1.46 billion, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 8.5% from $5.56 billion to a noteworthy $6.04 billion. At the other end of the current quarter income statement, Equinix, Inc. (REIT) is expected to see its adjusted earnings surge by roughly 27.1% to hit $1.83 per share. For the fiscal year, EQIX’s earnings are projected to climb by roughly 31.7% to hit $7.89 per share.