Cogent Communications (NASDAQ:CCOI) Now Covered by Analysts at UBS Group

Stock analysts at UBS Group initiated coverage on shares of Cogent Communications (NASDAQ:CCOI) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $102.00 price target on the technology company’s stock. UBS Group’s price objective suggests a potential upside of 29.70% from the stock’s previous close.

Several other research analysts have also issued reports on the company. KeyCorp boosted their target price on Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Bank of America cut Cogent Communications from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $75.00 to $65.00 in a report on Wednesday, August 21st. The Goldman Sachs Group increased their target price on Cogent Communications from $62.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. TD Cowen boosted their target price on shares of Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Citigroup upped their target price on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $80.25.

Cogent Communications Stock Down 0.5 %

Shares of CCOI opened at $78.64 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The business has a fifty day moving average of $77.97 and a 200 day moving average of $67.95. The company has a market cap of $3.85 billion, a PE ratio of 100.82 and a beta of 0.40. Cogent Communications has a 52-week low of $50.80 and a 52-week high of $86.76.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $0.01. The firm had revenue of $257.20 million during the quarter, compared to analyst estimates of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business earned ($1.13) EPS. On average, sell-side analysts expect that Cogent Communications will post -4.54 EPS for the current year.

Insider Activity at Cogent Communications

In other Cogent Communications news, Director Lewis H. Ferguson sold 1,550 shares of Cogent Communications stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $72.62, for a total transaction of $112,561.00. Following the completion of the sale, the director now directly owns 17,748 shares in the company, valued at approximately $1,288,859.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Sheryl Lynn Kennedy sold 1,350 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.58, for a total transaction of $108,783.00. Following the sale, the director now directly owns 10,318 shares of the company’s stock, valued at $831,424.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lewis H. Ferguson sold 1,550 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $72.62, for a total value of $112,561.00. Following the completion of the transaction, the director now directly owns 17,748 shares of the company’s stock, valued at $1,288,859.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,500 shares of company stock worth $5,008,175 over the last quarter. Insiders own 11.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCOI. EntryPoint Capital LLC acquired a new stake in Cogent Communications in the first quarter valued at approximately $26,000. Blue Trust Inc. increased its holdings in Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after acquiring an additional 272 shares in the last quarter. Hexagon Capital Partners LLC raised its position in Cogent Communications by 72.9% during the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock worth $41,000 after acquiring an additional 226 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Cogent Communications by 127.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after purchasing an additional 441 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Cogent Communications in the third quarter valued at about $46,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.