On July 30, Equinix rose 6.64% in regular trading, trading at approximately $1,054.83/share, with turnover of $80.01 million. The rally was driven by a strong Q2 earnings report that exceeded market expectations across key metrics.

The company reported Q2 adjusted funds from operations (AFFO) of $11.78 per diluted share, surpassing the FactSet consensus estimate of $11.35 by approximately 3.8%, representing an 18.87% year-over-year increase. Revenue came in at $2.625 billion, above the projected $2.579 billion. The company also raised its full-year guidance to AFFO of $42.69–$43.29 per share on revenue of $10.205–$10.285 billion, up from a prior outlook of $42.31–$43.11 on revenue of $10.144–$10.244 billion.

Prior to the earnings release, the data center REIT sector had experienced two consecutive days of broad selling pressure, with Equinix shares declining from approximately $1,050 to $1,002. The beat-and-raise quarter effectively alleviated concerns over decelerating sector growth. Following the report, Cantor Fitzgerald raised its price target to $1,211, while BNP Paribas adjusted its target to $1,219, both maintaining positive ratings.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)