Cogent Communications (NASDAQ:CCOI) Given New $11.00 Price Target at UBS Group

Cogent Communications (NASDAQ:CCOI) had its price objective trimmed by UBS Group from $17.00 to $11.00 in a report published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. TD Cowen dropped their target price on shares of Cogent Communications from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Citigroup decreased their target price on shares of Cogent Communications from $20.00 to $11.50 and set a “neutral” rating for the company in a report on Thursday. KeyCorp dropped their price objective on Cogent Communications from $25.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Royal Bank Of Canada lowered their price objective on shares of Cogent Communications from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Cogent Communications from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $21.05.

Cogent Communications Stock Up 9.3%

Shares of Cogent Communications stock opened at $11.31 on Friday. The business has a 50 day moving average of $13.04 and a 200 day moving average of $18.10. Cogent Communications has a 52 week low of $9.00 and a 52 week high of $45.69. The company has a market cap 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 results on Thursday, August 6th. The technology company reported $1.38 earnings per share for the quarter, beating the consensus estimate of ($1.00) by $2.38. The business had revenue of $235.56 million for the quarter, compared to analysts’ expectations of $239.55 million. Cogent Communications had a negative net margin of 4.73% and a negative return on equity of 842.48%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.21) earnings per share. On average, research analysts anticipate that Cogent Communications will post -2.7 earnings per share for the current year.

Cogent Communications Announces Dividend

The business 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 dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 21st. Cogent Communications’s payout ratio is presently -8.33%.

Insider Activity at Cogent Communications

In other news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications 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 sale, the vice president directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thaddeus Gerard Weed sold 4,850 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $16.79, for a total value of $81,431.50. Following the sale, the chief financial officer directly owned 197,900 shares in the company, valued at $3,322,741. The trade was a 2.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Cogent Communications

A number of institutional investors and hedge funds have recently bought and sold shares of CCOI. Vanguard Group Inc. boosted its position 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 worth $120,311,000 after purchasing an additional 217,450 shares in the last quarter. Turtle Creek Asset Management Inc. boosted its stake in Cogent Communications by 64.9% during the third quarter. Turtle Creek Asset Management Inc. now owns 4,603,933 shares of the technology company’s stock worth $176,561,000 after buying an additional 1,811,222 shares during the last quarter. State Street Corp increased its position in Cogent Communications by 6.8% during the fourth quarter. State Street Corp now owns 2,070,132 shares of the technology company’s stock worth $44,632,000 after purchasing an additional 132,454 shares during the last quarter. Park West Asset Management LLC acquired a new stake in Cogent Communications during the fourth quarter worth $30,380,000. Finally, Invesco Ltd. lifted its position in shares of Cogent Communications by 39.8% during the 3rd quarter. Invesco Ltd. now owns 1,402,612 shares of the technology company’s stock worth $53,790,000 after purchasing an additional 399,339 shares during the last quarter. 92.45% of the stock is owned by institutional investors.

Key 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

Cogent Communications Company Profile

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.