Why Equinix Stock Sagged on Thursday
Data center specialist 's (NASDAQ: EQIX) stock had a forgettable session on Thursday. The shares ended the day more than 1% lower, on the back of quarterly earnings that didn't entirely meet analyst expectations. Contrasting the stock's decline was the path of the S 500 (SNPINDEX: ^GSPC), which rose at essentially the same percentage rate.
Equinix released its fourth-quarter and full-year 2024 figures just after market close Wednesday. These showed that the company's revenue rose by 7% year over year to $2.26 billion.
Going in quite the opposite direction was the bottom line; according to generally accepted accounting principles (GAAP) standards, Equinix flipped to a loss of $14 million ($0.14 per share) from the year-ago profit of $227 million.
Source Fool.com
Equinix Inc. Stock
The stock is an absolute favorite of our community with 35 Buy predictions and no Sell predictions.
However, we have a potential of -1.36% for Equinix Inc. as the target price of 897 € is below the current price of 909.4 €.
