CCOI stock icon

Cogent Communications
CCOI

$51.71
1.24%
 

About: Cogent carries over one fifth of the world's internet traffic over its network and is a broadband provider for businesses. Cogent's corporate customers are in high-rise office buildings; the firm provides them with two types of connections: dedicated internet access, which connects them to the internet, and virtual private networking, which offers an internal network for employees in different locations. Cogent's corporate customers are exclusively in North America and account for over half of the firm's revenue. Cogent's netcentric customers include internet service providers and content providers, to which Cogent provides internet transit. They hand traffic to Cogent in data centers and rely on Cogent to deliver it. About half of netcentric revenue is from outside the US.

Employees: 1,955

0
Funds holding %
of 6,702 funds
0
Analysts bullish %
of 8 analysts
News positive %

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

3.73% more ownership

Funds ownership: 90.14% [Q4 2023] → 93.87% (+3.73%) [Q1 2024]

0% more funds holding in top 10

Funds holding in top 10: 10 [Q4 2023] → 10 (+0) [Q1 2024]

0% less funds holding

Funds holding: 307 [Q4 2023] → 306 (-1) [Q1 2024]

2% less first-time investments, than exits

New positions opened: 45 | Existing positions closed: 46

13% less capital invested

Capital invested by funds: $3.33B [Q4 2023] → $2.9B (-$430M) [Q1 2024]

16% less repeat investments, than reductions

Existing positions increased: 98 | Existing positions reduced: 117

52% less call options, than puts

Call options by funds: $6.68M | Put options by funds: $13.8M

Research analyst outlook

8 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target
$70
35%
upside
Avg. target
$82
58%
upside
High target
$105
103%
upside

8 analyst ratings

positive
63%
neutral
38%
negative
0%
JP Morgan
Sebastiano Petti
35%upside
$70
Neutral
Maintained
13 May 2024
TD Cowen
Gregory Williams
51%upside
$78
Buy
Maintained
10 May 2024
Keybanc
Josh Beck
55%upside
$80
Overweight
Maintained
10 May 2024
MoffettNathanson
Nick DelDeo
103%upside
$105
Buy
Maintained
11 Mar 2024
B of A Securities
David Barden
45%upside
$75
Neutral
Downgraded
7 Mar 2024

Financial journalist opinion