Cogent Comms (CCOI) Receives a Hold from Raymond James


In a report released yesterday, Frank Louthan from Raymond James maintained a Hold rating on Cogent Comms (CCOI). The company’s shares closed last Thursday at $55.04, close to its 52-week low of $54.24.

According to TipRanks.com, Louthan is a 4-star analyst with an average return of 2.8% and a 59.6% success rate. Louthan covers the Technology sector, focusing on stocks such as GTT Communications, Lumen Technologies, and GDS Holdings.

The word on The Street in general, suggests a Hold analyst consensus rating for Cogent Comms with a $71.75 average price target, implying a 25.1% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Hold rating on the stock.

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Based on Cogent Comms’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $141 million and net profit of $8.56 million. In comparison, last year the company earned revenue of $135 million and had a net profit of $7.14 million.

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.

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.

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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