Cogent CommunicationsCCOI
Market Cap: $3.59B
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
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
91% more call options, than puts
Call options by funds: $57.3M | Put options by funds: $30.1M
1% less funds holding
Funds holding: 310 [Q1] → 307 (-3) [Q2]
6% less first-time investments, than exits
New positions opened: 48 | Existing positions closed: 51
1.42% less ownership
Funds ownership: 95.16% [Q1] → 93.74% (-1.42%) [Q2]
10% less funds holding in top 10
Funds holding in top 10: 10 [Q1] → 9 (-1) [Q2]
12% less capital invested
Capital invested by funds: $2.94B [Q1] → $2.59B (-$350M) [Q2]
14% less repeat investments, than reductions
Existing positions increased: 97 | Existing positions reduced: 113
Research analyst outlook
10 Wall Street Analysts provided 1 year price targets over the past 3 months
10 analyst ratings
RBC Capital Bora Lee 100% 1-year accuracy 4 / 4 met price target | 1%upside $74 | Outperform Reiterated | 3 Sept 2024 |
Keybanc Brandon Nispel 58% 1-year accuracy 11 / 19 met price target | 23%upside $90 | Overweight Maintained | 27 Aug 2024 |
B of A Securities David Barden 100% 1-year accuracy 6 / 6 met price target | 11%downside $65 | Underperform Downgraded | 21 Aug 2024 |
Citigroup Michael Rollins 78% 1-year accuracy 21 / 27 met price target | 12%upside $82 | Buy Maintained | 19 Aug 2024 |
B of A Securities David Barden 100% 1-year accuracy 6 / 6 met price target | 2%upside $75 | Neutral Maintained | 13 Aug 2024 |
Financial journalist opinion
Based on 5 articles about CCOI published over the past 30 days