Cogent Communications (NASDAQ:CCOI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cogent Communications (NASDAQ:CCOI) from a sell rating to a hold rating in a report issued on Saturday.

Several other research firms have also issued reports on CCOI. Citigroup reduced their price target on shares of Cogent Communications from $20.00 to $11.50 and set a “neutral” rating on the stock in a research report on Thursday, August 13th. JPMorgan Chase & Co. restated a “neutral” rating and set a $22.00 price objective on shares of Cogent Communications in a research report on Friday, May 29th. TD Cowen cut their target price on Cogent Communications from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, August 7th. KeyCorp reduced their target price on Cogent Communications from $25.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Finally, UBS Group decreased their price target on Cogent Communications from $17.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cogent Communications presently has an average rating of “Hold” and an average price target of $21.05.

Cogent Communications Stock Down 5.0%

CCOI opened at $10.75 on Friday. The stock has a market capitalization of $550.62 million, a price-to-earnings ratio of -11.20 and a beta of 0.80. Cogent Communications has a twelve month low of $9.00 and a twelve month high of $45.69. The company has a 50-day simple moving average of $12.92 and a 200 day simple moving average of $17.96.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, August 6th. The technology company reported $1.38 EPS for the quarter, beating the consensus estimate of ($1.00) by $2.38. The firm had revenue of $235.56 million for the quarter, compared to analyst estimates of $239.55 million. Cogent Communications had a negative net margin of 4.73% and a negative return on equity of 842.48%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned ($1.21) EPS. Sell-side analysts anticipate that Cogent Communications will post -2.7 EPS for the current fiscal year.

Cogent Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 21st will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 21st. Cogent Communications’s payout ratio is presently -8.33%.

Insider Activity at Cogent Communications

In other news, VP Henry W. Kilmer sold 2,400 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $17.01, for a total transaction of $40,824.00. Following the completion of the transaction, the vice president owned 38,600 shares of the company’s stock, valued at approximately $656,586. This trade represents a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,850 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $16.79, for a total transaction of $81,431.50. Following the transaction, the chief financial officer directly owned 197,900 shares of the company’s stock, valued at $3,322,741. The trade was a 2.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Cogent Communications in the 2nd quarter valued at about $26,000. Parallel Advisors LLC increased its stake in shares of Cogent Communications by 208.6% in the first quarter. Parallel Advisors LLC now owns 1,432 shares of the technology company’s stock valued at $27,000 after buying an additional 968 shares during the period. Quarry LP bought a new position in shares of Cogent Communications during the third quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Cogent Communications during the fourth quarter worth about $28,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of Cogent Communications by 313.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock worth $32,000 after acquiring an additional 1,127 shares during the period. 92.45% of the stock is owned by institutional investors.

Trending Headlines about Cogent Communications

Here are the key news stories impacting Cogent Communications this week:

• Positive Sentiment: Analysts’ consensus price target implies substantial potential upside from recent levels. Zacks noted that upward earnings-estimate revisions can be a constructive signal, although price targets alone have limited predictive value. Wall Street Analysts Believe Cogent Could Rally
• Neutral Sentiment: Investors who purchased CCOI shares between February 29, 2024, and May 1, 2026, have until September 21, 2026, to seek lead-plaintiff status in the federal securities case. Numerous law firms issued substantially similar reminders, making this largely a continuation of previously reported litigation rather than a new operational development. Cogent Securities Fraud Class Action Lawsuit Filed
• Negative Sentiment: The lawsuit alleges that Cogent materially misstated or omitted information about demand for its optical wavelength services and promoted a backlog of orders that allegedly was unlikely to convert into paying revenue. The allegations could increase legal, reputational and financial risks if substantiated, contributing to investor selling pressure. Cogent Optical Wavelength Backlog Lawsuit
• Negative Sentiment: UBS Group lowered its price target for Cogent to $11, signaling reduced confidence in the company’s near-term valuation. The downgrade follows a weak fundamental backdrop: recent revenue declined year over year, missed consensus expectations, and the company remains unprofitable. UBS Cuts Cogent Price Target

About Cogent Communications

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.