BUZZ-Equinix shares rise after raising full-year revenue forecast

October 29 - ** Digital infrastructure company Equinix (EQIX.O) shares rose 4.2% to $1,050.24, after hitting a two-month high during the session

** The company raised its full-year revenue forecast from the previous range of $10.205 billion to $10.285 billion to a range of $10.325 billion to $10.365 billion

** The company recorded a record total bookings this quarter, indicating strong demand

** In addition, the company announced it will issue $700 million in common stock and conduct an undisclosed-size mixed shelf offering

** The company's share price stood above the 50-day moving average for the first time since early October

** The 50-day moving average is a widely watched indicator measuring a stock's medium-term trend

** The current price-to-earnings ratio for the next 12 months' expected earnings is 53.91 times, much higher than the industry median of 18.80 times — LSEG data

** Thirty analysts rate the stock as “buy” or higher, five rate it “hold,” with a median target price of $1,230 — LSEG data

** As of the previous closing, EQIX has risen more than 37% since the start of the year

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