Cogent Communications (NASDAQ:CCOI) Given New $11.50 Price Target at Citigroup

Key Points

• Citigroup lowered Cogent Communications’ price target from $20.00 to $11.50 and maintained a neutral rating, implying approximately 11% upside from the prior close.
• CCOI shares traded at $10.35, near their 52-week low of $9.00 and well below the 52-week high of $45.69. Analysts’ consensus rating remains “Hold,” with an average price target of $21.65.
• Cogent’s latest quarter showed mixed results: EPS of $1.38 exceeded estimates, but revenue of $235.6 million fell short of expectations and declined 4.4% year over year; analysts forecast a full-year loss.

Cogent Communications (NASDAQ:CCOI - Get Free Report) had its price target decreased by investment analysts at Citigroup from $20.00 to $11.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the technology company's stock. Citigroup's price objective would indicate a potential upside of 11.11% from the company's previous close.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $22.00 target price on shares of Cogent Communications in a research note on Friday, May 29th. UBS Group decreased their price target on shares of Cogent Communications from $21.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, May 5th. Weiss Ratings cut shares of Cogent Communications from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, May 20th. Wall Street Zen upgraded Cogent Communications from a "strong sell" rating to a "sell" rating in a report on Saturday, June 27th. Finally, Wells Fargo & Company decreased their target price on Cogent Communications from $18.00 to $14.00 and set an "equal weight" rating for the company in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $21.65.

Cogent Communications Stock Performance

NASDAQ:CCOI traded up $0.10 during mid-day trading on Thursday, hitting $10.35. The company had a trading volume of 2,205,089 shares, compared to its average volume of 1,275,841. Cogent Communications has a fifty-two week low of $9.00 and a fifty-two week high of $45.69. The firm has a market cap of $530.13 million, a P/E ratio of -10.78 and a beta of 0.80. The business's fifty day moving average is $13.29 and its two-hundred day moving average is $18.24.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its earnings results on Thursday, August 6th. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $2.38. The company had revenue of $235.56 million during the quarter, compared to analyst estimates of $239.55 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 4.73%.The company's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.21) EPS. Equities analysts forecast that Cogent Communications will post -2.7 earnings per share for the current year.

Insider Transactions at Cogent Communications

In related news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thaddeus Gerard Weed sold 4,850 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $16.79, for a total value of $81,431.50. Following the completion of the sale, the chief financial officer owned 197,900 shares in the company, valued at $3,322,741. The trade was a 2.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.20% of the company's stock.

Institutional Trading of Cogent Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in Cogent Communications during the third quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Cogent Communications in the 4th quarter valued at $28,000. Parallel Advisors LLC lifted its position in Cogent Communications by 208.6% during the 1st quarter. Parallel Advisors LLC now owns 1,432 shares of the technology company's stock worth $27,000 after buying an additional 968 shares in the last quarter. Hantz Financial Services Inc. grew its holdings 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 acquiring an additional 1,127 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Cogent Communications in the 1st quarter valued at about $104,000. 92.45% of the stock is currently owned by institutional investors and hedge funds.

More Cogent Communications News

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

• Positive Sentiment: Royal Bank of Canada maintained a “sector perform” rating while lowering its price target from $18 to $12. Although the reduction signals diminished expectations, the new target still implies potential upside from recent trading levels. Benzinga analyst price-target report
• Neutral Sentiment: Multiple law firms are publicizing the same previously filed securities class action covering investors who purchased CCOI shares between February 29, 2024, and May 1, 2026. The September 21, 2026 lead-plaintiff deadline is procedural and does not establish that Cogent violated securities laws. Kaplan Fox class-action notice
• Negative Sentiment: The concentration of investor-alert releases is increasing the perceived legal and reputational risk surrounding Cogent. Potential litigation costs, damages, and additional scrutiny could further weigh on valuation, particularly because the company has recently reported declining revenue, negative margins, and an expected full-year loss. Allegations also raise concerns about the sustainability of Cogent’s dividend and its financial flexibility. ClaimsFiler Cogent shareholder alert

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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