Royal Bank Of Canada Lowers Cogent Communications (NASDAQ:CCOI) Price Target to $12.00

Cogent Communications (NASDAQ:CCOI) had its target price cut by equities research analysts at Royal Bank Of Canada from $18.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the technology company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 21.05% from the company’s previous close.

Several other research analysts have also recently issued reports on CCOI. TD Cowen cut their price objective on Cogent Communications from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, August 7th. UBS Group lowered their price target on shares of Cogent Communications from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Wall Street Zen upgraded shares of Cogent Communications from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Wells Fargo & Company decreased their price objective on shares of Cogent Communications from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Finally, KeyCorp reduced their price target on shares of Cogent Communications from $25.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.50.

Cogent Communications Price Performance

NASDAQ CCOI traded down $0.34 on Thursday, hitting $9.91. 629,193 shares of the company’s stock were exchanged, compared to its average volume of 1,267,225. The firm has a market cap of $507.74 million, a price-to-earnings ratio of -10.31 and a beta of 0.80. The firm’s 50-day moving average price is $13.29 and its two-hundred day moving average price is $18.24. Cogent Communications has a fifty-two week low of $9.00 and a fifty-two week high of $45.69.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $1.38 EPS for the quarter, beating the consensus estimate of ($1.00) by $2.38. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 4.73%.The business had revenue of $235.56 million during the quarter, compared to analysts’ expectations of $239.55 million. During the same period last year, the firm earned ($1.21) EPS. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, research analysts predict that Cogent Communications will post -2.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Thaddeus Gerard Weed sold 4,850 shares of the stock in a transaction dated 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 directly owned 197,900 shares in the company, valued at approximately $3,322,741. This represents a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Henry W. Kilmer sold 2,400 shares of the firm’s 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 completion of the sale, the vice president directly owned 38,600 shares in the company, valued at approximately $656,586. The trade was a 5.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its position in shares of Cogent Communications by 208.6% in the first 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. Quarry LP purchased a new stake in Cogent Communications in the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in Cogent Communications during the fourth quarter worth approximately $28,000. Hantz Financial Services Inc. raised its stake in Cogent Communications by 313.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,127 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Cogent Communications during the fourth quarter worth approximately $43,000. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Cogent Communications News Roundup

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

• Neutral Sentiment: The lawsuit covers investors who purchased Cogent securities between February 29, 2024, and May 1, 2026. Investors have until September 21, 2026 to seek appointment as lead plaintiff. The allegations have not been proven, and the notices largely repeat the same underlying case. Kaplan Fox class action notice
• Negative Sentiment: Law firms allege Cogent and certain officers made materially false or misleading statements and omitted information related to demand, backlog, growth prospects, its dividend policy, and insider share-pledging risks. If the claims proceed, Cogent could face litigation costs, damages, and additional reputational pressure. Hagens Berman Cogent investor deadline
• Negative Sentiment: The volume of investor-alert releases from Pomerantz, Kaplan Fox, Faruqi & Faruqi, DJS, Rosen, and other firms keeps the allegations in front of the market, potentially increasing headline risk and discouraging new buyers. Pomerantz investor alert
• Negative Sentiment: Fundamentals already provide limited support: the latest quarterly revenue was below expectations and declined year over year, while the company remains unprofitable on a net-income basis. Shares are trading near their 12-month low and well below their 50-day and 200-day moving averages, reflecting weak momentum.

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.