Cogent Communications (NASDAQ:CCOI) PT Lowered to $80.00

Cogent Communications (NASDAQ:CCOI) had its price objective decreased by stock analysts at KeyCorp from $88.00 to $80.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price would suggest a potential upside of 35.50% from the company’s current price.

CCOI has been the topic of several other reports. TD Cowen raised their price target on Cogent Communications from $81.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. TheStreet raised Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, February 29th. StockNews.com downgraded Cogent Communications from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. decreased their target price on Cogent Communications from $74.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Finally, Bank of America downgraded Cogent Communications from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $75.00 in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $76.43.

Cogent Communications Stock Down 4.3 %

Shares of NASDAQ:CCOI traded down $2.66 during midday trading on Friday, hitting $59.04. 403,539 shares of the stock were exchanged, compared to its average volume of 410,381. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.38 and a current ratio of 1.38. Cogent Communications has a 52-week low of $57.35 and a 52-week high of $86.00. The business’s fifty day simple moving average is $65.02 and its two-hundred day simple moving average is $69.43. The company has a market capitalization of $2.80 billion, a PE ratio of 2.21 and a beta of 0.39.

Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Thursday, February 29th. The technology company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.95) by $0.79. Cogent Communications had a negative return on equity of 23.66% and a net margin of 135.34%. The company had revenue of $272.10 million for the quarter, compared to analyst estimates of $275.82 million. As a group, research analysts predict that Cogent Communications will post -3.35 earnings per share for the current fiscal year.

Insider Activity

In other news, CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.62, for a total value of $147,110.40. Following the completion of the transaction, the executive now owns 54,822 shares in the company, valued at $4,200,461.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.62, for a total value of $147,110.40. Following the completion of the transaction, the executive now owns 54,822 shares in the company, valued at approximately $4,200,461.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $73.47, for a total transaction of $176,328.00. Following the completion of the transaction, the vice president now owns 41,000 shares of the company’s stock, valued at approximately $3,012,270. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,320 shares of company stock worth $4,669,997. Insiders own 11.40% of the company’s stock.

Institutional Trading of Cogent Communications

A number of institutional investors have recently bought and sold shares of CCOI. EverSource Wealth Advisors LLC boosted its stake in Cogent Communications by 895.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 398 shares of the technology company’s stock worth $25,000 after purchasing an additional 358 shares during the period. SRS Capital Advisors Inc. boosted its stake in Cogent Communications by 313.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 505 shares of the technology company’s stock worth $38,000 after purchasing an additional 383 shares during the period. Hexagon Capital Partners LLC boosted its stake in Cogent Communications by 109.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 636 shares of the technology company’s stock worth $48,000 after purchasing an additional 333 shares during the period. Strs Ohio boosted its stake in Cogent Communications by 20.0% in the 3rd quarter. Strs Ohio now owns 1,800 shares of the technology company’s stock worth $111,000 after purchasing an additional 300 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of Cogent Communications by 56.7% in the 4th quarter. Fifth Third Bancorp now owns 2,026 shares of the technology company’s stock valued at $154,000 after acquiring an additional 733 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.