Equinix Inc. (EQIX.O): Equinix Delivers on Accelerating Revenue Growth, While Investing For the Future

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Equinix Inc. (EQIX.O): Equinix Delivers on Accelerating Revenue Growth, While Investing For the Future

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30 Jul 2026 03:49:02 ET │ 23 pages

Equinix Inc. (EQIX.O)

Equinix Delivers on Accelerating Revenue Growth, While Investing For

the Future

CITI'S TAKE

Equinix delivered another good quarter of results reinforcing our thesis that Buy

financial growth should accelerate from a combination of robust bookings

activity, strong RPO growth, healthy pricing trends, favorable stabilized revenue Price (29 Jul 26 16:00) US$1,008.02

growth, better MRR churn and increasing AI-related customer deployments. Target price US$1,260.00

Equinix also surprised with higher annual capex with anticipated returns Expected share price return 25.0%unlikely to meaningfully contribute to financial performance until 2029 and

beyond given the 3-5 year timing to reach a stabilized level. Hence, we view the Expected dividend yield 2.2%

guidance revisions as net-positive, while we recognize a risk that the market Expected total return 27.2%

only evaluates the capex increase with the multi-year guidance revisions Market Cap US$99,463Mthrough 2029. We remain a Buyer of EQIX as our top pick with an opportunity

to further accelerate recurring revenue growth from multiple levers, including: 1)

accelerating volume; 2) improving monetization with rising power density &

interconnection spend; and 3) expanding TAM to mid-size enterprise

deployments as part of its Build Bolder strategy. Price Performance

(RIC: EQIX.O, BB: EQIX US)

Increasing Multi-Year Guidance — The uplift in multi-year guidance also supports

results and the more favorable backdrop for demand with revenue now anticipated

to grow double-digits through at least 2029, EBITDA growth in excess of revenue