CyrusOne (CONE) Received its Third Buy in a Row


After Wells Fargo and Credit Suisse gave CyrusOne (NASDAQ: CONE) a Buy rating last month, the company received another Buy, this time from Jefferies. Analyst Jonathan Petersen maintained a Buy rating on CyrusOne today and set a price target of $66. The company’s shares opened today at $52.82.

According to TipRanks.com, Petersen is a 5-star analyst with an average return of 9.4% and a 70.5% success rate. Petersen covers the Financial sector, focusing on stocks such as Government Properties Income Trust, First Industrial Realty Trust, and Highwoods Properties.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for CyrusOne with a $70.78 average price target, representing a 34.0% upside. In a report issued on October 18, Wells Fargo also maintained a Buy rating on the stock with a $66 price target.

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Based on CyrusOne’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $42.4 million. In comparison, last year the company had a GAAP net loss of $55.3 million.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Kevin Timmons, the CTO of CONE sold 7,374 shares for a total of $495,164.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

CyrusOne, Inc. engages in the ownership, operation, and development of enterprise-class, carrier-neutral, multi-tenant data center properties. It provides mission-critical data center facilities that protect and ensure the continued operation of information technology infrastructure for different customers.

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