Royal Bank Of Canada Cuts Cogent Communications (NASDAQ:CCOI) Price Target to $12.00

Cogent Communications (NASDAQ:CCOI) had its price target reduced by Royal Bank Of Canada from $18.00 to $12.00 in a research note published on Thursday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the technology company’s stock.

A number of other research analysts also recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Cogent Communications from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, August 7th. Weiss Ratings downgraded shares of Cogent Communications from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. UBS Group decreased 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 note on Tuesday, May 5th. Citigroup lowered their price target on Cogent Communications from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $22.00 price target on shares of Cogent Communications in a research note on Friday, May 29th. 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.05.

Cogent Communications Stock Performance

Shares of NASDAQ:CCOI opened at $11.31 on Thursday. The firm has a market cap of $579.30 million, a price-to-earnings ratio of -11.78 and a beta of 0.80. The business has a 50-day simple moving average of $13.04 and a two-hundred day simple moving average of $18.10. Cogent Communications has a fifty-two week low of $9.00 and a fifty-two week high of $45.69.

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

Cogent Communications Dividend Announcement

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

Insiders Place Their Bets

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,850 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $16.79, for a total transaction 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 trade represents a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Henry W. Kilmer sold 2,400 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $17.01, for a total value of $40,824.00. Following the sale, the vice president directly owned 38,600 shares in the company, valued at approximately $656,586. This represents a 5.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Cogent Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Cogent Communications in the 3rd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in Cogent Communications in the 4th quarter worth approximately $28,000. Parallel Advisors LLC boosted its stake in Cogent Communications by 208.6% in the 1st 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. Hantz Financial Services Inc. grew its holdings in Cogent Communications by 313.9% during the 4th quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock valued at $32,000 after buying an additional 1,127 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Cogent Communications during the 1st quarter valued at approximately $104,000. Institutional investors own 92.45% of the company’s stock.

Key Cogent Communications News

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

• Positive Sentiment: Recent trading has been supported by above-average volume, indicating heightened investor interest and potential short-term buying or short-covering activity.
• Neutral Sentiment: Multiple law firms reiterated that investors who purchased CCOI shares from February 29, 2024, through May 1, 2026, may seek lead-plaintiff status by September 21, 2026. The announcements largely repeat the same pending securities class action and do not represent a new court finding. Hagens Berman class action notice
• Negative Sentiment: The lawsuit alleges that Cogent failed to disclose issues involving demand, wavelength backlog and the reliability of a key growth metric before an approximately 29% stock decline. If proven, the claims could create legal costs, settlement exposure and reputational damage, although the allegations remain unproven. Kahn Swick & Foti class action notice
• Negative Sentiment: UBS lowered its CCOI price target from $17 to $11 and maintained a Neutral rating. Citi previously cut its target from $20 to $11.50 with a Neutral rating, while RBC reduced its target from $18 to $12 and retained a Sector Perform rating. The reductions reflect more cautious expectations for Cogent’s growth and valuation. Analyst price-target updates

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.