Cogent Communications (NASDAQ:CCOI) Price Target Lowered to $14.00 at Wells Fargo & Company

Cogent Communications (NASDAQ:CCOI) had its price objective trimmed by Wells Fargo & Company from $18.00 to $14.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $22.00 price objective on shares of Cogent Communications in a research report on Friday, May 29th. UBS Group decreased their target price on shares of Cogent Communications from $21.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. TD Cowen restated a “buy” rating on shares of Cogent Communications in a report on Monday, June 22nd. KeyCorp cut their price target on shares of Cogent Communications from $25.00 to $15.00 and set an “overweight” rating for the company in a report on Friday. Finally, Citigroup reduced their price target on shares of Cogent Communications from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.10.

Cogent Communications Price Performance

CCOI opened at $9.92 on Friday. The firm has a market capitalization of $496.79 million, a price-to-earnings ratio of -10.33 and a beta of 0.80. The company’s 50 day simple moving average is $13.69 and its two-hundred day simple moving average is $18.56. Cogent Communications has a 1-year low of $9.00 and a 1-year 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, topping the consensus estimate of ($1.00) by $2.38. The business had revenue of $235.56 million for the quarter, compared to analyst estimates of $239.55 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 4.73%.The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.21) EPS. On average, equities analysts anticipate that Cogent Communications will post -4.25 earnings per share for the current fiscal year.

Cogent Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Friday, August 21st will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 21st. Cogent Communications’s payout ratio is -2.25%.

Insider Transactions at Cogent Communications

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,850 shares of the 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 transaction, the chief financial officer owned 197,900 shares of the company’s stock, valued at $3,322,741. This trade represents a 2.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $17.01, for a total transaction of $40,824.00. Following the sale, the vice president owned 38,600 shares of the company’s stock, valued at approximately $656,586. This represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Cogent Communications

Several institutional investors have recently added to or reduced their stakes in CCOI. Vanguard Group Inc. lifted its stake in Cogent Communications by 4.1% during the fourth 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. grew its stake in shares of Cogent Communications by 64.9% in the third quarter. Turtle Creek Asset Management Inc. now owns 4,603,933 shares of the technology company’s stock valued at $176,561,000 after buying an additional 1,811,222 shares in the last quarter. State Street Corp grew its stake in shares of Cogent Communications by 6.8% in the fourth quarter. State Street Corp now owns 2,070,132 shares of the technology company’s stock valued at $44,632,000 after buying an additional 132,454 shares in the last quarter. Park West Asset Management LLC purchased a new stake in shares of Cogent Communications in the 4th quarter valued at $30,380,000. Finally, Invesco Ltd. lifted its stake in 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 acquiring an additional 399,339 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

Cogent Communications News Summary

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

• Positive Sentiment: Cogent’s second-quarter loss was narrower than expected on an adjusted basis, with a loss of approximately $0.80 per share versus the $1.12 consensus estimate. The company also benefited from selling 10 data centers for $224.2 million, generating a $130.7 million gain. Cogent Incurs Narrower-Than-Expected Q2 Loss Despite Lower Revenues
• Positive Sentiment: TD Cowen maintained a “buy” rating, although it reduced its price target from $34 to $30. KeyCorp also kept an “overweight” rating, implying substantial upside from current levels. Analyst price-target updates
• Neutral Sentiment: Cogent declared a $0.02 quarterly dividend, payable September 4 to shareholders of record August 21. The payment provides a modest income return, but the small dividend is unlikely to offset broader concerns about the business.
• Negative Sentiment: Second-quarter service revenue of $235.6 million missed the $239.6 million consensus and declined 4.4% year over year. Weakness in Sprint Wireline and off-net services offset growth in on-net and wavelength offerings, raising questions about near-term demand and backlog conversion. Cogent Communications Reports Second Quarter 2026 Results
• Negative Sentiment: Wells Fargo lowered its target from $18 to $14 and assigned an “equal weight” rating. KeyCorp cut its target from $25 to $15, while TD Cowen also reduced its target, indicating analysts are recalibrating expectations despite some remaining bullish views. Analyst price-target updates
• Negative Sentiment: Multiple law firms publicized a securities class action covering investors who purchased CCOI shares between February 29, 2024, and May 1, 2026. The claims reportedly concern undisclosed demand and backlog problems and alleged overly optimistic growth and dividend statements. The lead-plaintiff deadline is September 21, 2026, increasing legal and reputational risk. Cogent securities-fraud class-action notice

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.