TD Cowen Lowers Cogent Communications (NASDAQ:CCOI) Price Target to $30.00

Cogent Communications (NASDAQ:CCOI) had its target price decreased by TD Cowen from $34.00 to $30.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. TD Cowen’s price target indicates a potential upside of 202.42% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Royal Bank Of Canada dropped their price objective on Cogent Communications from $22.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Cogent Communications from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. UBS Group cut their target price on shares of Cogent Communications from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $22.00 price target on shares of Cogent Communications in a report on Friday, May 29th. Finally, Wells Fargo & Company dropped their price target on Cogent Communications from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $23.10.

Cogent Communications Price Performance

CCOI traded down $0.99 during trading on Friday, hitting $9.92. 4,207,989 shares of the stock traded hands, compared to its average volume of 1,259,936. The firm has a market capitalization of $496.79 million, a P/E ratio of -2.79 and a beta of 0.80. Cogent Communications has a 12-month low of $9.00 and a 12-month high of $45.69. The firm has a 50-day moving average of $13.85 and a 200 day moving average of $18.62.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, August 6th. The technology company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $2.38. The company had revenue of $235.56 million during the quarter, compared to the consensus estimate of $239.55 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 17.53%.The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.21) earnings per share. As a group, equities analysts predict that Cogent Communications will post -4.25 EPS for the current fiscal year.

Insider Buying and Selling at Cogent Communications

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

Institutional Investors Weigh In On Cogent Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCOI. Federation des caisses Desjardins du Quebec increased its position in Cogent Communications by 17.5% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,850 shares of the technology company’s stock valued at $61,000 after acquiring an additional 425 shares during the period. Empowered Funds LLC increased its holdings in shares of Cogent Communications by 10.3% in the first quarter. Empowered Funds LLC now owns 5,466 shares of the technology company’s stock valued at $335,000 after purchasing an additional 510 shares during the period. Quarry LP acquired a new position in shares of Cogent Communications in the third quarter valued at approximately $27,000. Farther Finance Advisors LLC raised its stake 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 worth $45,000 after purchasing an additional 756 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Cogent Communications by 208.6% during the first quarter. Parallel Advisors LLC now owns 1,432 shares of the technology company’s stock worth $27,000 after purchasing an additional 968 shares during the period. Institutional investors own 92.45% of the company’s stock.

Cogent Communications News Roundup

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

• Positive Sentiment: Cogent reported a narrower-than-expected second-quarter loss, helped in part by a $130.7 million gain from selling 10 data centers for net proceeds of $224.2 million. Cogent Communications Reports Second Quarter 2026 Results
• Positive Sentiment: KeyCorp maintained an “overweight” rating while lowering its price target from $25 to $15, and Wells Fargo retained an “equal weight” rating with a target cut from $18 to $14. Although the reductions signal lower expectations, both targets remain above the current trading level. Analyst price-target updates
• Neutral Sentiment: Cogent declared a quarterly dividend of $0.02 per share, payable September 4 to shareholders of record August 21. The dividend provides some shareholder return, but its approximately 0.7% indicated yield is unlikely to offset concerns about operating performance.
• Negative Sentiment: Second-quarter service revenue of $235.6 million missed the $239.6 million consensus estimate and declined 4.4% year over year. Weakness in Sprint wireline and off-net services outweighed growth in on-net and wavelength offerings, raising concerns about demand and the pace of future growth. Cogent Incurs Narrower-Than-Expected Q2 Loss Despite Lower Revenues
• Negative Sentiment: Several law firms publicized a securities-fraud class action against Cogent, alleging that the company failed to disclose demand and backlog problems and gave investors an overly favorable view of wavelength-driven growth and dividend strength. The proposed class covers purchases from February 29, 2024 through May 1, 2026, with a September 21, 2026 deadline for lead-plaintiff applications. The legal claims add reputational, financial, and uncertainty risks, although the allegations have not been proven.

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.