Key Takeaways for Equinix Stock as of August 2026
- Beat-and-Raise Quarter: Revenue reached $2,625.00M, up 16.36% YoY, beating Street’s $2,581.66M estimate by 1.68%, and Adjusted EPS of $5.10 cleared consensus by 6.33%.
- Long-Term Outlook Reset: FY2026 revenue growth guidance now stands at 11% to 12%, AFFO per share growth at 10% to 12%, and 2027-2029 capex is guided to $5B-$7B annually.
- Record Interconnections: 9,700 net interconnections landed in Q2, Equinix’s most ever in a single quarter.
- CEO Confidence: Adaire Fox-Martin, CEO, called this “the largest single guidance raise in the history of our company,” pointing to broad-based demand across bookings, presales, and backlog.
Equinix just delivered the largest guidance raise in its history on record bookings and interconnections. See what it means for Equinix stock on TIKR for free →
Record Bookings and Interconnections Drive Equinix’s Biggest-Ever Guidance Raise
Equinix (EQIX) delivered a beat-and-raise second quarter that pushed the company to issue what it called the largest guidance increase in its history, with revenue climbing to $2,625.00 million in the three months ended June 30, 2026, up 16.36% from a year earlier and 1.68% ahead of the $2,581.66 million Street estimate.
Monthly recurring revenue, the subscription-style base that anchors Equinix’s colocation and interconnection business, grew 11% year over year on a normalized and constant currency basis, the third straight quarter of double-digit MRR growth. Annualized gross bookings jumped 23% to $424 million, the second-highest volume the company has ever recorded, while total sales activity, which folds in presales alongside bookings, rose more than 30%. Net interconnections hit 9,700 for the quarter, the most Equinix has ever added in a single period, and management pointed to a record backlog of signed business still waiting to be installed.
That combination of bookings and backlog gave management enough conviction to raise both near-term and multiyear targets. For 2026, Equinix now expects revenue growth of 11% to 12% and adjusted funds from operations (AFFO) per share growth of 10% to 12%, alongside a jump in planned capital expenditures to a range of $5 billion to $6 billion. CEO Adaire Fox-Martin framed the scale of the move directly on the Q2 earnings call: “This is the largest single guidance raise in the history of our company, reflecting broad-based durable demand and strong execution across our business.” The company also extended its outlook through 2029, guiding to 10% to 13% annual revenue growth and $5 billion to $7 billion of yearly capex, roughly 80% of which will land in its top 25 metros.
Profitability kept pace with the top line, with adjusted EBITDA reaching $1,396.00 million, a margin of 53.18%, up 314 basis points from a year ago and 71 basis points ahead of Street’s estimate. Adjusted EPS of $5.10 beat the Street’s estimate by 6.33% and climbed 34.55% year over year, while adjusted FFO per share, the REIT-specific cash flow metric, rose 4.54% ahead of estimates to $11.78. Net leverage held at 3.6 times annualized EBITDA against $7.7 billion of available liquidity, giving the balance sheet room to fund the accelerated buildout without straining Equinix’s investment-grade rating. Churn ticked up to 1.8% in the quarter on renewal timing, though management expects it to settle near the low end of its typical 2% to 2.5% range in the second half.
Equinix is committing $5 billion to $7 billion a year through 2029 to chase this demand. Track EQIX’s spending plans on TIKR for free →
TIKR Values Equinix Stock at $1,797, Pricing In Sustained AI-Driven Demand
TIKR’s mid-case model values Equinix at $1,797 by December 2030, implying 76% total return from the current price of $1,019, or 14% annualized over 4.4 years.
A 76% total return over roughly four years, even after the stock has already compounded through the current AI infrastructure cycle, places Equinix stock among the more compelling growth-adjusted setups in the data center REIT space.
The target is reachable because Equinix just raised both its near-term and multiyear growth ranges on the back of record bookings, a record interconnection quarter, and $5 billion to $7 billion in annual capex through 2029 aimed squarely at AI-driven demand. With MRR growth accelerating for a third straight quarter and management guiding AFFO per share growth to 10% to 12% for 2026, the earnings power behind TIKR’s $1,797 target is already showing up in the numbers.
TIKR’s model puts Equinix stock’s target at $1,797, a 76% total return. Check the full valuation model on TIKR for free →
Should You Invest in Equinix, Inc.?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
