Cogent Communications Holdings, Inc. (NASDAQ:CCOI) was downgraded by research analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Thursday. They currently have a $39.00 price target on the technology company’s stock, down from their prior price target of $43.00. Citigroup Inc.’s price objective points to a potential downside of 12.85% from the company’s previous close.

Several other analysts have also commented on the stock. Off Wall Street assumed coverage on shares of Cogent Communications Holdings in a research report on Monday, July 31st. They issued a “sell” rating and a $29.00 price objective on the stock. Zacks Investment Research raised shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Monday, October 9th. BidaskClub raised shares of Cogent Communications Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Cogent Communications Holdings in a research report on Monday, September 18th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $48.00 price objective (up previously from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Cogent Communications Holdings presently has an average rating of “Hold” and a consensus price target of $43.77.

Cogent Communications Holdings (CCOI) traded up $2.15 during trading on Thursday, reaching $44.75. 872,362 shares of the company traded hands, compared to its average volume of 390,527. Cogent Communications Holdings has a 1-year low of $35.75 and a 1-year high of $54.85. The stock has a market capitalization of $2,060.00, a PE ratio of 118.33, a PEG ratio of 10.53 and a beta of 0.65. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of -8.84.

Cogent Communications Holdings (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). Cogent Communications Holdings had a negative return on equity of 23.86% and a net margin of 3.37%. The firm had revenue of $123.00 million for the quarter, compared to analysts’ expectations of $123.60 million. During the same quarter last year, the firm posted $0.08 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. equities analysts predict that Cogent Communications Holdings will post 0.4 EPS for the current fiscal year.

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In other news, VP Henry W. Kilmer sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $46.45, for a total value of $139,350.00. Following the sale, the vice president now owns 36,600 shares of the company’s stock, valued at $1,700,070. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $46.60, for a total transaction of $46,600.00. Following the completion of the sale, the vice president now directly owns 41,052 shares in the company, valued at approximately $1,913,023.20. The disclosure for this sale can be found here. In the last three months, insiders sold 18,216 shares of company stock worth $850,007. Insiders own 9.48% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CCOI. Gilder Gagnon Howe & Co. LLC increased its holdings in Cogent Communications Holdings by 0.5% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 7,186 shares of the technology company’s stock worth $288,000 after acquiring an additional 38 shares during the period. Pinebridge Investments L.P. increased its holdings in Cogent Communications Holdings by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,395 shares of the technology company’s stock worth $217,000 after acquiring an additional 53 shares during the period. Aperio Group LLC increased its holdings in Cogent Communications Holdings by 1.1% during the 2nd quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock worth $368,000 after acquiring an additional 99 shares during the period. Arizona State Retirement System increased its holdings in Cogent Communications Holdings by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 21,400 shares of the technology company’s stock worth $858,000 after acquiring an additional 100 shares during the period. Finally, Laurion Capital Management LP increased its holdings in Cogent Communications Holdings by 1.3% during the 2nd quarter. Laurion Capital Management LP now owns 8,000 shares of the technology company’s stock worth $321,000 after acquiring an additional 100 shares during the period. 89.96% of the stock is currently owned by institutional investors.

About Cogent Communications Holdings

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Analyst Recommendations for Cogent Communications Holdings (NASDAQ:CCOI)

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