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

Cogent Communications (NASDAQ:CCOI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

CCOI has been the topic of a number of other reports. Wells Fargo & Company dropped their target price on Cogent Communications from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, August 7th. UBS Group reduced their price target on Cogent Communications from $17.00 to $11.00 and set a “neutral” rating for the company in a report on Friday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $22.00 price objective on shares of Cogent Communications in a report on Friday, May 29th. TD Cowen reduced their target price on Cogent Communications from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, Weiss Ratings lowered shares of Cogent Communications from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cogent Communications currently has an average rating of “Hold” and an average price target of $21.05.

Cogent Communications Stock Performance

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 50 day moving average of $13.04 and a two-hundred day moving average of $18.06. The firm has a market capitalization of $579.30 million, a PE ratio of -11.78 and a beta of 0.80.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $2.38. The firm had revenue of $235.56 million for the quarter, compared to analyst estimates of $239.55 million. Cogent Communications had a negative net margin of 4.73% and a negative return on equity of 842.48%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.21) earnings per share. As a group, analysts predict that Cogent Communications will post -2.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction on Monday, June 15th. The stock was sold at an average price of $17.01, for a total transaction of $40,824.00. Following the transaction, the vice president owned 38,600 shares in the company, valued at $656,586. The trade was a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thaddeus Gerard Weed sold 4,850 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $16.79, for a total transaction of $81,431.50. Following the completion of the sale, the chief financial officer directly owned 197,900 shares of the company’s stock, valued at $3,322,741. This represents a 2.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Cogent Communications

A number of hedge funds have recently modified their holdings of CCOI. Bank of New York Mellon Corp acquired a new stake in shares of Cogent Communications during the 2nd quarter worth about $3,685,000. Shrier Wealth Management LLC lifted its holdings in shares of Cogent Communications by 33.1% in the 2nd quarter. Shrier Wealth Management LLC now owns 23,453 shares of the technology company’s stock worth $326,000 after acquiring an additional 5,835 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Cogent Communications by 208.6% in the 1st quarter. Parallel Advisors LLC now owns 1,432 shares of the technology company’s stock worth $27,000 after acquiring an additional 968 shares during the last quarter. Turtle Creek Asset Management Inc. boosted its position in shares of Cogent Communications by 7.7% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 4,348,897 shares of the technology company’s stock worth $81,933,000 after purchasing an additional 312,050 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in Cogent Communications by 77.9% in the 1st quarter. Quantinno Capital Management LP now owns 108,875 shares of the technology company’s stock valued at $2,051,000 after purchasing an additional 47,668 shares during the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Cogent Communications

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.