Cogent Communications Rating Lowered to Underperform at DA Davidson (CCOI)
Cogent Communications last announced its earnings results on Thursday, May 3rd. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.04) by $0.01. The company’s quarterly revenue was up 4.7% on a year-over-year basis.
CCOI has been the subject of a number of other recent research reports. Analysts at Stephens upgraded shares of Cogent Communications from an “equal weight” rating to an “overweight” rating in a research note to investors on Friday. Separately, analysts at Bank of America (NYSE: BAC) downgraded shares of Cogent Communications from a “buy” rating to an “underperform” rating in a research note to investors on Monday, April 2nd. They now have a $18.00 price target on the stock, down previously from $19.00. Finally, analysts at Canaccord Genuity initiated coverage on shares of Cogent Communications in a research note to investors on Tuesday, March 27th. They set a “buy” rating and a $22.00 price target on the stock.
Cogent Communications Group, Inc. is a facilities-based provider of Internet access and Internet Protocol (IP) communications services.