Cogent Communications (CCOI)

• Market cap: $1.77B
• 1 day: 0.14%
• 5 days: -1.88%
• 1 month: 5.73%
• 3 months: -24.98%
• 6 months: -48.51%
• Year to date: -53.29%
• 1 year: -49.96%
• 5 years: -45.83%
• 10 years: 30.95%
• Sector: Communication Services
• Industry: Telecom Services

About: Cogent carries over one-fifth of the world's internet traffic on its network, providing high-capacity services to businesses. Cogent's corporate customers are in high-rise office buildings, where the firm provides 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 nearly 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: 1,916

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

4.99% more ownership

Funds ownership: 93.94% [Q1] → 98.93% (+4.99%) [Q2]

6% more repeat investments, than reductions

Existing positions increased: 112 | Existing positions reduced: 106

4% more call options, than puts

Call options by funds: $25.1M | Put options by funds: $24.1M

9% less funds holding

Funds holding: 320 [Q1] → 292 (-28) [Q2]

17% less capital invested

Capital invested by funds: $2.84B [Q1] → $2.35B (-$487M) [Q2]

27% less funds holding in top 10

Funds holding in top 10: 11 [Q1] → 8 (-3) [Q2]

39% less first-time investments, than exits

New positions opened: 37 | Existing positions closed: 61

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $33
• Avg. target: $40
• High target: $45

4 analyst ratings

• positive: 1 25%
• neutral: 3 75%
• negative: 0 0%

Goldman Sachs Michael Ng	$40	Neutral Assumed	2 Sep 2025
Wells Fargo Eric Luebchow	$45	Overweight Upgraded	18 Aug 2025
Citigroup Michael Rollins	$33	Neutral Downgraded	12 Aug 2025
RBC Capital Jonathan Atkin	$40	Sector Perform Downgraded	8 Aug 2025