Equinix Inc. (NASDAQ:EQIX) is one of the 10 oversold NASDAQ stocks to invest in right now.
On July 1, Barclays increased its target price for Equinix Inc. (NASDAQ:EQIX) from $1,109 to $1,130, which now yields an adjusted upside potential of over 13%
The firm retained an Equal Weight rating on the stock. Citing larger growth prospects than previously projected, Barclays raised its targets for real estate investment trusts (REITs) focused on communications infrastructure. The firm acknowledged the elevated demand trends across hyperscale and enterprise AI, due to which many companies within this space are reaping the benefits.
Back on June 16, Equinix Inc. (NASDAQ:EQIX) disclosed an extended collaboration with Nvidia Corp. (NASDAQ:NVDA) and Cisco Systems Inc. (NASDAQ:CSCO), which is aimed at accelerating enterprise AI solutions. Equinix will allow its clients to implement the Cisco Secure AI Factory with Nvidia across its extensive data center network around the globe. This collaboration also offers AI factory automation and blueprints.