Cogent Comms (CCOI) Gets a Buy Rating from Citigroup

In a report released today, Michael Rollins from Citigroup maintained a Buy rating on Cogent Comms (CCOI), with a price target of $89.00. The company’s shares closed last Friday at $74.61.

According to, Rollins is a 5-star analyst with an average return of 19.5% and a 74.0% success rate. Rollins covers the Technology sector, focusing on stocks such as Vonage Holdings, CenturyLink, and T Mobile US.

Currently, the analyst consensus on Cogent Comms is a Moderate Buy with an average price target of $83.20, implying a 5.3% upside from current levels. In a report issued on August 7, Credit Suisse also assigned a Buy rating to the stock with a $93.00 price target.

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Cogent Comms’ market cap is currently $3.53B and has a P/E ratio of 91.00. The company has a Price to Book ratio of -15.88.

Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CCOI in relation to earlier this year.

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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. The company was founded by David Schaeffer in August 1999 and is headquartered in Washington, DC.

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