11 Best Feminist Stocks To Invest In

7. Equinix, Inc. (NASDAQ:EQIX)

Number of Hedge Fund Shareholders In Q1 2024: 66

CEO: Adaire Fox-Martin

Equinix, Inc. (NASDAQ:EQIX) is a specialized real estate company that enables businesses to secure space to set up their data centers. CEO Adaire Fox-Martin was brought on board in March 2024, and she previously worked at Google. Soon after her appointment was announced, well known short seller Hindenburg Research was out with a short seller report alleging accounting manipulations at the firm. However, in June Stifel stuck with a Buy rating and a $920 share price target for Equinix, Inc. (NASDAQ:EQIX). It shared that AI demand could prove to be a growth catalyst and investigations by the SEC and the DOJ into Equinix, Inc. (NASDAQ:EQIX)’s affairs are likely to yield favorable results.

Given the fact that Equinix, Inc. (NASDAQ:EQIX) sits smack in the middle of the AI industry through its data center offerings, a forward P/E ratio of 64.52 is unsurprising. It is 3x the S&P’s 21, and firmly places the stock into the growth category. Baron Funds mentioned Equinix, Inc. (NASDAQ:EQIX) in its Q1 2024 investor letter and shared:

Following strong relative and absolute performance in 2023, we reduced our position in leading global data center operator, Equinix, Inc., due to the Fund’s large position size and other compelling new investment ideas that we have been identifying. Equinix continues to be a core position in the Fund, and we remain optimistic about the long-term growth prospects for the company due to its interconnection focus among a highly curated customer ecosystem developed over the past 20-plus years, strong demand and pricing power, favorable supply backdrop, and evolving incremental demand vectors such as AI. We believe Equinix can continue to compound earnings at approximately 10% over the next few years and believe the prospects for strong shareholder returns remain compelling.