Cogent Communications (NASDAQ:CCOI) Upgraded to “Hold” at Wall Street Zen

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

A number of other equities analysts have also recently issued reports on CCOI. Wells Fargo & Company reduced their target price on Cogent Communications from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Weiss Ratings cut Cogent Communications from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. KeyCorp cut their price target on shares of Cogent Communications from $25.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. TD Cowen reduced their price objective on shares of Cogent Communications from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, UBS Group decreased their price objective on shares of Cogent Communications from $17.00 to $11.00 and set a “neutral” rating for the company in a report on Friday. Three 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 company presently has a consensus rating of “Hold” and an average price target of $21.05.

Cogent Communications Stock Up 9.3%

NASDAQ:CCOI opened at $11.31 on Friday. Cogent Communications has a 12-month low of $9.00 and a 12-month high of $45.69. The firm has a market capitalization of $579.30 million, a P/E ratio of -11.78 and a beta of 0.80. The stock’s fifty day simple moving average is $13.04 and its 200-day simple moving average is $18.10.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $2.38. The business had revenue of $235.56 million during the quarter, compared to analysts’ expectations of $239.55 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 4.73%.The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.21) earnings per share. As a group, equities research analysts expect that Cogent Communications will post -2.7 earnings per share for the current 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. The ex-dividend date is Friday, August 21st. This represents a $0.08 annualized dividend and a yield of 0.7%. Cogent Communications’s payout ratio is currently -8.33%.

Insider Transactions at Cogent Communications

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,850 shares of the stock in a transaction dated Tuesday, June 16th. The stock was 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 directly owned 197,900 shares in the company, valued at $3,322,741. This represents a 2.39% decrease in their ownership of the stock. The sale 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 stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $17.01, for a total value of $40,824.00. Following the completion of the sale, the vice president owned 38,600 shares of the company’s stock, valued at $656,586. This trade 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

Large investors have recently bought and sold shares of the business. FourWorld Capital Management LLC acquired a new position in Cogent Communications in the 1st quarter worth $5,002,000. Granahan Investment Management LLC raised its stake in shares of Cogent Communications by 46.3% in the 1st quarter. Granahan Investment Management LLC now owns 317,447 shares of the technology company’s stock valued at $5,981,000 after purchasing an additional 100,422 shares during the period. Vanguard Group Inc. raised its stake in shares of Cogent Communications by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 5,580,271 shares of the technology company’s stock valued at $120,311,000 after purchasing an additional 217,450 shares during the period. Redmond Asset Management LLC lifted its holdings in shares of Cogent Communications by 45.8% in the fourth quarter. Redmond Asset Management LLC now owns 200,082 shares of the technology company’s stock valued at $4,314,000 after purchasing an additional 62,828 shares in the last quarter. Finally, Vest Financial LLC lifted its holdings in shares of Cogent Communications by 206.4% in the fourth quarter. Vest Financial LLC now owns 74,634 shares of the technology company’s stock valued at $1,609,000 after purchasing an additional 50,276 shares in the last quarter. 92.45% of the stock is owned by institutional investors.

More 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

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.