Fintel reports that on August 21, 2023, Goldman Sachs upgraded their outlook for Cogent Communications Holdings (NASDAQ:CCOI) from Sell to Neutral .
Analyst Price Forecast Suggests 2.81% Upside
As of August 2, 2023, the average one-year price target for Cogent Communications Holdings is 71.60. The forecasts range from a low of 43.43 to a high of $99.75. The average price target represents an increase of 2.81% from its latest reported closing price of 69.65.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cogent Communications Holdings is 642MM, a decrease of 4.39%. The projected annual non-GAAP EPS is 0.99.
What is the Fund Sentiment?
There are 599 funds or institutions reporting positions in Cogent Communications Holdings. This is an increase of 15 owner(s) or 2.57% in the last quarter. Average portfolio weight of all funds dedicated to CCOI is 0.26%, an increase of 8.34%. Total shares owned by institutions increased in the last three months by 1.19% to 46,412K shares. 
The put/call ratio of CCOI is 0.24, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,117K shares representing 6.57% ownership of the company. In it's prior filing, the firm reported owning 3,166K shares, representing a decrease of 1.59%. The firm increased its portfolio allocation in CCOI by 6.77% over the last quarter.
Vaughan Nelson Investment Management holds 2,146K shares representing 4.53% ownership of the company. In it's prior filing, the firm reported owning 2,108K shares, representing an increase of 1.77%. The firm decreased its portfolio allocation in CCOI by 1.68% over the last quarter.
Renaissance Technologies holds 1,820K shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 1,809K shares, representing an increase of 0.57%. The firm increased its portfolio allocation in CCOI by 15.34% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,343K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 1,313K shares, representing an increase of 2.24%. The firm increased its portfolio allocation in CCOI by 5.44% over the last quarter.
Brown Advisory holds 1,324K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 1,345K shares, representing a decrease of 1.55%. The firm decreased its portfolio allocation in CCOI by 48.88% over the last quarter.
Cogent Communications Holdings Background Information
(This description is provided by the company.)
Cogent (NASDAQ: CCOI) is a facilities-based provider of low cost, high speed Internet access and private network services to bandwidth intensive businesses. Cogent's facilities-based, all-optical IP network provides services in over 209 markets across 47 countries.
Additional reading:
- Cogent Communications Reports Second Quarter 2023 Results Including the Sprint Wireline Business, Records a $1.2 Billion Gain on Bargain Purchase, Records Basic Earnings per Share of $23.84 and Increases its Regular Quarterly Dividend on its Common S
- Cogent Communications Reports Second Quarter 2023 Results Including the Sprint Wireline Business, Records a $1.2 Billion Gain on Bargain Purchase, Records Basic Earnings per Share of $23.84 and Increases its Regular Quarterly Dividend on its Common S
- First Amendment to Lease Agreement, dated February 20, 2023, between Germanium LLC and Cogent Communications, Inc., for early access to technical space at 196 Van Buren Street, Herndon, VA. (filed herewith)
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