Key Stats for Equinix Stock
- Past-Week Performance: 2%
- 52-Week Range: $401 to $993
- Current Price: $946
What Happened?
Equinix stock (EQIX) shattered its own bookings record in Q4 with $474 million in annualized gross bookings, up 42% year-over-year, propelling shares to $945.6 and within striking distance of the $992.9 52-week high as the market reprices the world’s largest data center operator as a direct AI infrastructure beneficiary.
Driving the initial surge, 24 of 30 brokerages rate EQIX a buy or strong buy, and Wall Street’s median 12-month price target sits at $959, with the stock jumping 10% to ~$954 in extended trading immediately after the February 11 earnings release validated the AI demand thesis.
The mechanical force behind the move centers on a single striking data point: approximately 60% of Equinix’s largest Q4 deals were driven by AI workloads, up from 50% earlier in 2025, with nearly half of those AI deals coming from non-cloud enterprises in retail, manufacturing, and financial services.
Beyond the quarter, the market is actively re-rating Equinix from a steady-yield REIT into a high-growth AI infrastructure platform, as record interconnection additions, a 500,000-connection milestone, and the Salesforce Fabric Cloud Router win collectively redefine the company’s competitive identity.
CEO and President Adaire Fox-Martin stated on the Q4 earnings call that “Equinix plays an essential role helping businesses connect and manage increasingly distributed AI, cloud and networking infrastructure,” contextualizing a quarter where Q4 transaction volume hit an all-time high of 4,500 deals across 3,400 unique customers.
Further reinforcing the bull case, Wells Fargo analyst Eric Luebchow directly engaged management on the AI bookings acceleration during the February 11 call, while the median Street price target of $959 across 30 analysts implies continued upside from the current $945.6 price.
Looking three to five years out, Equinix’s 3 gigawatts of powered developable land, 52 active construction projects, and more than double the interconnections of its nearest competitor position it to capture an outsized share of the enterprise AI inference buildout as low-latency, multi-cloud connectivity becomes non-negotiable infrastructure.
Wall Street’s Take on EQIX Stock
Equinix’s record $474 million Q4 bookings and a 2026 revenue guide of $10.1 billion to $10.2 billion, above Street estimates, signal that the AI infrastructure supercycle is directly converting into durable top-line acceleration for a stock already trading near its 52-week high at $945.6.
Underpinning that trajectory, management guided for 2026 EBITDA margins of approximately 51%, a 200 basis point improvement over 2025, while AFFO per share growth of 8% to 10% confirms that Equinix is simultaneously scaling revenue and expanding profitability rather than trading one for the other.
Wall Street has responded with conviction, as 17 buys and 7 outperforms from 26 analysts push the mean 12-month price target to $1,014.2, representing 7.2% upside from the February 23 close of $945.6, with zero sell ratings across the entire coverage universe.
The target range spans from a low of $870 to a high of $1,200, a $330 spread that reflects genuine disagreement over how quickly AI inference workload demand translates into sustained booking acceleration beyond the record Q4 performance.
What Does the Valuation Model Say?
Backed by record bookings, a 500,000-interconnection milestone, and 52 active construction projects, TIKR’s mid-case model prices EQIX at $1,863.8 by December 2030, implying a 97.1% total return and a 15% annualized IRR from current levels over the next 4.8 years.
The primary risk centers on execution of the $3.7 billion to $4.2 billion 2026 CapEx program, where aggressive expansion drag could compress near-term margins and CFO Keith Taylor’s pending retirement introduces leadership transition uncertainty at a critical inflection point.
At $945.6 with a 15% annualized IRR in the base case, a zero-sell analyst consensus, and record bookings already extending into Q1, Equinix looks meaningfully undervalued for long-term investors positioned to capture the full runway of enterprise AI infrastructure buildout.
Should You Invest in Equinix, Inc.?
The only way to really know is to look at the numbers yourself. TIKR gives you free access to the same institutional-quality financial data that professional analysts use to answer exactly that question.
Pull up Equinix Stock and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.
You can build a free watchlist to track Equinix, Inc. alongside every other stock on your radar. No credit card required. Just the data you need to decide for yourself.
Access Professional Tools to Analyze Equinix stock on TIKR for Free →
