Cogent Communications (NASDAQ:CCOI) Stock Dropped to “Sell” by Wall Street Zen

Wall Street Zen cut shares of Cogent Communications (NASDAQ:CCOI) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

CCOI has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d)” rating on shares of Cogent Communications in a report on Monday, August 17th. JPMorgan Chase & Co. cut shares of Cogent Communications from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $22.00 to $9.00 in a research note on Wednesday, August 19th. Royal Bank Of Canada cut their target price on shares of Cogent Communications from $18.00 to $12.00 and set a “sector perform” rating for the company in a report on Thursday, August 13th. UBS Group set a $9.00 target price on shares of Cogent Communications in a research note on Wednesday, August 19th. Finally, Citigroup dropped their price target on shares of Cogent Communications from $20.00 to $11.50 and set a “neutral” rating on the stock in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Cogent Communications presently has a consensus rating of “Hold” and an average target price of $18.94.

Cogent Communications Stock Performance

NASDAQ:CCOI opened at $3.98 on Friday. Cogent Communications has a one year low of $3.56 and a one year high of $28.70. The firm has a market cap of $203.86 million, a price-to-earnings ratio of -5.61 and a beta of 0.80. The firm’s fifty day moving average is $8.24 and its two-hundred day moving average is $15.36.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, November 5th. The technology company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.15. The company had revenue of $231.20 million for the quarter, compared to analysts’ expectations of $234.57 million. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.87) EPS. As a group, equities research analysts predict that Cogent Communications will post -3.13 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Thaddeus Weed sold 4,850 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $9.37, for a total value of $45,444.50. Following the completion of the sale, the chief financial officer directly owned 193,050 shares in the company, valued at $1,808,878.50. This represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Turtle Creek Asset Management Inc. boosted its holdings in shares of Cogent Communications by 7.7% in the first quarter. Turtle Creek Asset Management Inc. now owns 4,348,897 shares of the technology company’s stock valued at $81,933,000 after acquiring an additional 312,050 shares during the period. FourWorld Capital Management LLC acquired a new position in shares of Cogent Communications in the 1st quarter valued at $5,002,000. Bank of New York Mellon Corp acquired a new position in shares of Cogent Communications in the 2nd quarter valued at $3,685,000. Aberdeen Group plc purchased a new stake in Cogent Communications in the 3rd quarter valued at $1,432,000. Finally, Squarepoint Ops LLC raised its position in Cogent Communications by 341.1% in the 2nd quarter. Squarepoint Ops LLC now owns 226,035 shares of the technology company’s stock valued at $3,137,000 after purchasing an additional 174,787 shares during 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 reported a Q3 loss of $0.62 per share, narrower than analysts’ roughly $0.77-per-share estimate and the $0.87 loss a year earlier. On-net revenue, including wavelengths, rose 2.4% sequentially to $153.9 million and was up 5.8% year over year. Cogent Communications Reports Third Quarter 2026 Results
• Negative Sentiment: UBS lowered its price target to $6 from $11 while maintaining a Neutral rating, and KeyBanc also downgraded the shares. The analyst actions are weighing on investor sentiment. UBS Adjusts Price Target Cogent Communications Shares Fall After KeyBanc Downgrade
• Negative Sentiment: Q3 revenue of $231.2 million fell short of expectations of about $234.6 million, declined 4.4% year over year, and was below the prior quarter’s $235.6 million in service revenue. The sales shortfall and ongoing revenue contraction appear to outweigh the narrower-than-expected loss. Cogent misses Q3 2026 sales expectations

Cogent Communications Company Profile

Cogent Communications Holdings, Inc (NASDAQ: CCOI) is a telecommunications company that provides high-speed Internet connectivity and data transport services to businesses, telecommunications carriers, content providers, government agencies and educational institutions. The company operates a global, facilities-based fiber-optic network and is recognized as a Tier 1 Internet service provider.

Cogent’s offerings include dedicated Internet access, IP transit, Ethernet and other private network connectivity services.