Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Receives $25.71 Consensus Price Target from Brokerages

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) has been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $25.7143.

CCOI has been the topic of a number of research analyst reports. Wells Fargo & Company restated an “equal weight” rating and set a $27.00 price target (down previously from $45.00) on shares of Cogent Communications in a report on Friday, November 7th. Zacks Research raised shares of Cogent Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Cogent Communications in a report on Monday, December 22nd. The Goldman Sachs Group cut their target price on shares of Cogent Communications from $40.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Finally, UBS Group reissued a “neutral” rating and issued a $27.00 price target (down from $50.00) on shares of Cogent Communications in a research note on Friday, November 7th.

Insider Activity

In other news, Director Lewis H. Ferguson sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total value of $81,360.00. Following the completion of the transaction, the director owned 19,267 shares in the company, valued at $391,890.78. This trade represents a 17.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 11.40% of the company’s stock.

Hedge Funds Weigh In On Cogent Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Cogent Communications in the 3rd quarter worth about $27,000. Hantz Financial Services Inc. lifted its position 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 acquiring an additional 1,127 shares during the period. Atlantic Union Bankshares Corp bought a new stake in Cogent Communications during the second quarter worth about $40,000. Kestra Advisory Services LLC purchased a new position in shares of Cogent Communications during the fourth quarter valued at approximately $43,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Cogent Communications by 56.6% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Cogent Communications Price Performance

Shares of Cogent Communications stock opened at $27.66 on Monday. The company’s fifty day simple moving average is $23.49 and its two-hundred day simple moving average is $30.39. Cogent Communications has a 12-month low of $15.96 and a 12-month high of $84.06. The firm has a market cap of $1.36 billion, a PE ratio of -6.78 and a beta of 0.81. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 49.06.

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.