Cogent Communications (NASDAQ:CCOI) Price Target Cut to $18.00 by Analysts at Royal Bank Of Canada

Cogent Communications (NASDAQ:CCOI) had its price target lowered by equities researchers at Royal Bank Of Canada from $22.00 to $18.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the technology company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 4.32% from the company’s previous close.

A number of other analysts have also weighed in on CCOI. UBS Group lowered their price objective on shares of Cogent Communications from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday. Weiss Ratings lowered shares of Cogent Communications from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd. Williams Trading set a $40.00 price objective on shares of Cogent Communications in a research report on Monday, February 23rd. TD Cowen dropped their price objective on shares of Cogent Communications from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $22.00 price objective (down from $23.00) on shares of Cogent Communications in a research note on Tuesday. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.90.

Cogent Communications Stock Down 4.5%

Shares of NASDAQ CCOI traded down $0.81 during trading hours on Wednesday, hitting $17.26. The company had a trading volume of 417,676 shares, compared to its average volume of 1,207,202. Cogent Communications has a 1-year low of $14.82 and a 1-year high of $55.24. The stock has a market capitalization of $863.79 million, a P/E ratio of -4.84 and a beta of 0.85. The firm’s 50 day moving average is $20.74 and its 200-day moving average is $23.82.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings results on Monday, May 4th. The technology company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.20. Cogent Communications had a negative net margin of 17.53% and a negative return on equity of 842.48%. The business had revenue of $239.19 million for the quarter, compared to analysts’ expectations of $241.31 million. During the same period in the previous year, the company earned ($1.09) earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts predict that Cogent Communications will post -3.66 earnings per share for the current year.

Insider Transactions at Cogent Communications

In other news, CFO Thaddeus Gerard Weed sold 4,850 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $22.63, for a total transaction of $109,755.50. Following the completion of the sale, the chief financial officer directly owned 202,750 shares in the company, valued at $4,588,232.50. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lewis H. Ferguson sold 2,206 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $23.03, for a total value of $50,804.18. Following the sale, the director directly owned 20,449 shares of the company’s stock, valued at $470,940.47. This represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 12,756 shares of company stock worth $292,467. Insiders own 4.20% of the company’s stock.

Institutional Trading of Cogent Communications

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in shares of Cogent Communications in the third quarter worth $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Cogent Communications in the fourth quarter valued at $28,000. Hantz Financial Services Inc. lifted its stake in shares of Cogent Communications by 313.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,127 shares during the period. Kestra Advisory Services LLC purchased a new stake in Cogent Communications in the fourth quarter worth about $43,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Cogent Communications by 56.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,092 shares of the technology company’s stock valued at $45,000 after acquiring an additional 756 shares in the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Cogent Communications

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

• Positive Sentiment: J.P. Morgan upgraded Cogent, which is a supportive catalyst from a large bank and may attract buying interest. Article Title
• Positive Sentiment: TD Cowen kept a “buy” rating despite lowering its price target (now $34), signaling some analysts still see meaningful upside based on recovery potential. Article Title
• Neutral Sentiment: Q1 results showed a narrower-than-expected GAAP loss (EPS beat) and improving margins, but revenue fell ~3.2% year-over-year as legacy off-net declines offset growth in on-net and wavelength services — mixed operational signals for the turnaround. Article Title
• Neutral Sentiment: CEO Dave Schaeffer will present at upcoming conferences (including the J.P. Morgan TMC conference), which gives management a platform to discuss strategy and execution progress. Article Title
• Negative Sentiment: Several law firms (Block & Leviton, Kehoe, Johnson Fistel) announced investigations into potential securities claims related to Cogent, increasing legal overhang and investor uncertainty. Article Title
• Negative Sentiment: UBS cut its price target to $17 and moved to a “neutral” rating, and JPMorgan trimmed its PT slightly — analyst downgrades/target cuts reduce near‑term optimism and can pressure the stock. Article Title
• Negative Sentiment: Revenue miss and related coverage noting high leverage ($2.57B debt) and weak cash raise execution and solvency concerns, amplifying downside risk despite margin improvements. Article Title

Cogent Communications Company Profile

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.