Cogent Communications (NASDAQ:CCOI – Free Report) had its price target reduced by Citigroup from $11.50 to $5.20 in a research note released on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the technology company’s stock.
A number of other equities research analysts also recently weighed in on the stock. UBS Group set a $9.00 price target on shares of Cogent Communications in a research note on Wednesday, August 19th. TD Cowen decreased their price target on shares of Cogent Communications from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Cogent Communications in a research report on Monday, August 17th. Royal Bank Of Canada lowered their price objective on shares of Cogent Communications from $18.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.24.
View Our Latest Stock Analysis on CCOI
Cogent Communications Stock Up 2.1%
Shares of CCOI stock opened at $4.44 on Monday. Cogent Communications has a twelve month low of $3.56 and a twelve month high of $28.70. The company has a market cap of $227.33 million, a P/E ratio of -6.25 and a beta of 0.80. The business has a fifty day simple moving average of $7.94 and a 200 day simple moving average of $15.06.
Cogent Communications (NASDAQ:CCOI – Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The technology company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.15. The business had revenue of $231.20 million during the quarter, compared to analyst estimates of $234.57 million. During the same period last year, the business earned ($0.87) earnings per share. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Cogent Communications will post -3.06 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Thaddeus Weed sold 4,850 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $9.37, for a total transaction of $45,444.50. Following the sale, the chief financial officer owned 193,050 shares in the company, valued at $1,808,878.50. The trade was a 2.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Cogent Communications
Several large investors have recently bought and sold shares of the company. Turtle Creek Asset Management Inc. grew its holdings in shares of Cogent Communications by 7.7% during the first quarter. Turtle Creek Asset Management Inc. now owns 4,348,897 shares of the technology company’s stock worth $81,933,000 after purchasing an additional 312,050 shares during the last quarter. FourWorld Capital Management LLC bought a new position in Cogent Communications in the 1st quarter valued at approximately $5,002,000. Bank of New York Mellon Corp bought a new position in Cogent Communications in the 2nd quarter valued at approximately $3,685,000. Aberdeen Group plc bought a new position in Cogent Communications in the 3rd quarter valued at approximately $1,432,000. Finally, Squarepoint Ops LLC boosted its position in Cogent Communications by 341.1% during the 2nd quarter. Squarepoint Ops LLC now owns 226,035 shares of the technology company’s stock worth $3,137,000 after buying an additional 174,787 shares during the period. 92.45% of the stock is currently owned by institutional investors.
Top Cogent Communications Stories
Investors following CCOI have been watching these stories:
- Neutral Sentiment: A short-interest update reported a total of zero shares sold short despite describing short interest as having increased, making the figures internally inconsistent and difficult to interpret as a clear trading signal.
- Negative Sentiment: Citigroup lowered its expectations for Cogent shares, adding to concerns about the stock. The article listing provided no revised price target or other details. Citigroup Has Lowered Expectations for Cogent Communications Stock Price
- Negative Sentiment: KeyCorp cut its earnings forecasts for most quarters in 2027 and lowered its full-year 2027 EPS estimate to a loss of $3.46 from a loss of $3.07. The firm maintained a “Sector Weight” rating. Weaker expected earnings could pressure investor sentiment, though KeyCorp raised its 2026 estimate to a loss of $3.15 from $3.39. KeyCorp earnings estimates
About Cogent Communications
Cogent Communications is a facilities-based provider of internet and data-transport services. Its offerings include dedicated internet access, IP transit, Ethernet and wavelength services, and colocation, serving businesses, communications carriers, government agencies, and other organizations. The company operates a high-capacity network across North America and Europe. It connects customer locations to the internet and provides network capacity for organizations that need to move data between sites or across networks.
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