Cogent Communications (NASDAQ:CCOI) Price Target Lowered to $15.00 at KeyCorp

Cogent Communications (NASDAQ:CCOI) had its price objective decreased by KeyCorp from $25.00 to $15.00 in a research report sent to investors on Friday morning,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

Several other brokerages have also recently weighed in on CCOI. Wells Fargo & Company dropped their price target on shares of Cogent Communications from $23.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. Wall Street Zen raised Cogent Communications from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. TD Cowen reiterated a “buy” rating on shares of Cogent Communications in a research report on Monday, June 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $22.00 price target on shares of Cogent Communications in a report on Friday, May 29th. Finally, Weiss Ratings cut Cogent Communications from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cogent Communications currently has an average rating of “Hold” and a consensus target price of $23.10.

Cogent Communications Stock Down 9.1%

Shares of NASDAQ:CCOI opened at $9.92 on Friday. The firm’s 50 day moving average price is $13.69 and its 200-day moving average price is $18.56. Cogent Communications has a twelve month low of $9.00 and a twelve month high of $45.69. The stock has a market capitalization of $496.79 million, a PE ratio of -10.33 and a beta of 0.80.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, August 6th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $235.56 million during the quarter, compared to analyst estimates of $239.55 million. During the same period in the previous year, the business posted ($1.21) earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. Analysts expect that Cogent Communications will post -4.25 earnings per share for the current fiscal year.

Cogent Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, August 21st. Cogent Communications’s payout ratio is presently -2.25%.

Insider Activity at Cogent Communications

In other news, VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $17.01, for a total value of $40,824.00. Following the transaction, the vice president owned 38,600 shares of the company’s stock, valued at approximately $656,586. The trade was a 5.85% decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $16.79, for a total transaction of $81,431.50. Following the transaction, the chief financial officer owned 197,900 shares of the company’s stock, valued at approximately $3,322,741. This represents a 2.39% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Federation des caisses Desjardins du Quebec lifted its position in Cogent Communications by 17.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,850 shares of the technology company’s stock valued at $61,000 after acquiring an additional 425 shares during the last quarter. Empowered Funds LLC grew its holdings in Cogent Communications by 10.3% in the first quarter. Empowered Funds LLC now owns 5,466 shares of the technology company’s stock worth $335,000 after purchasing an additional 510 shares during the last quarter. Quarry LP purchased a new position in Cogent Communications in the third quarter worth $27,000. Farther Finance Advisors LLC increased its position in shares of Cogent Communications by 56.6% during the fourth 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. Finally, Parallel Advisors LLC increased its position in shares of Cogent Communications by 208.6% during the first quarter. Parallel Advisors LLC now owns 1,432 shares of the technology company’s stock worth $27,000 after purchasing an additional 968 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

More Cogent Communications News

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

• Positive Sentiment: Cogent’s second-quarter loss was narrower than expected on an adjusted basis, with a loss of approximately $0.80 per share versus the $1.12 consensus estimate. The company also benefited from selling 10 data centers for $224.2 million, generating a $130.7 million gain. Cogent Incurs Narrower-Than-Expected Q2 Loss Despite Lower Revenues
• Positive Sentiment: TD Cowen maintained a “buy” rating, although it reduced its price target from $34 to $30. KeyCorp also kept an “overweight” rating, implying substantial upside from current levels. Analyst price-target updates
• Neutral Sentiment: Cogent declared a $0.02 quarterly dividend, payable September 4 to shareholders of record August 21. The payment provides a modest income return, but the small dividend is unlikely to offset broader concerns about the business.
• Negative Sentiment: Second-quarter service revenue of $235.6 million missed the $239.6 million consensus and declined 4.4% year over year. Weakness in Sprint Wireline and off-net services offset growth in on-net and wavelength offerings, raising questions about near-term demand and backlog conversion. Cogent Communications Reports Second Quarter 2026 Results
• Negative Sentiment: Wells Fargo lowered its target from $18 to $14 and assigned an “equal weight” rating. KeyCorp cut its target from $25 to $15, while TD Cowen also reduced its target, indicating analysts are recalibrating expectations despite some remaining bullish views. Analyst price-target updates
• Negative Sentiment: Multiple law firms publicized a securities class action covering investors who purchased CCOI shares between February 29, 2024, and May 1, 2026. The claims reportedly concern undisclosed demand and backlog problems and alleged overly optimistic growth and dividend statements. The lead-plaintiff deadline is September 21, 2026, increasing legal and reputational risk. Cogent securities-fraud class-action notice

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.