Guggenheim analyst Mike McCormack reiterated a Hold rating on Cogent Comms (NASDAQ: CCOI) today and set a price target of $47. The company’s shares opened today at $50.85.
According to TipRanks.com, McCormack is a 5-star analyst with an average return of 12.5% and a 76.8% success rate. McCormack covers the Technology sector, focusing on stocks such as Frontier Communications Corporation, GTT Communications, and Sprint Corp.
Currently, the analyst consensus on Cogent Comms is a Hold with an average price target of $47, which is a -7.6% downside from current levels. In a report released yesterday, Cowen & Co. also reiterated a Hold rating on the stock with a $34 price target.
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Cogent Comms’ market cap is currently $2.37B and has a P/E ratio of 268.95. The company has a Price to Book ratio of -24.37.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock.
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Cogent Communications Holdings, Inc. engages in the provision of internet access and Internet Protocol communications services. It offers internet access and data transport through its fiber optic, IP data-only network, ethernet transport, and colocation services.
