CyrusOne (CONE) Receives a Hold from Credit Suisse

In a report released today, Sami Badri from Credit Suisse reiterated a Hold rating on CyrusOne (CONE), with a price target of $78.00. The company’s shares closed last Wednesday at $76.83, close to its 52-week high of $79.73.

According to, Badri is a 1-star analyst with an average return of -0.6% and a 47.7% success rate. Badri covers the Technology sector, focusing on stocks such as Motorola Solutions, Ubiquiti Networks, and CommScope Holding.

CyrusOne has an analyst consensus of Moderate Buy, with a price target consensus of $79.67, implying a 2.3% upside from current levels. In a report released today, Barclays also initiated coverage with a Hold rating on the stock with a $82.00 price target.

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Based on CyrusOne’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $246 million and net profit of $14.7 million. In comparison, last year the company earned revenue of $225 million and had a net profit of $89.4 million.

Based on the recent corporate insider activity of 56 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 CONE in relation to earlier this year.

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CyrusOne, Inc. is a real estate investment trust, which specializes in the enterprise-class, carrier-neutral data center properties. The firm provides data center facilities that protect and ensure the continued operation of IT infrastructure. Its data center properties are purpose-built facilities with redundant power, cooling and telecommunications systems and that are not network-specific, enabling customer interconnectivity to a range of telecommunications carriers. The company was founded on July 31, 2012 and is headquartered in Dallas, TX.

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