These Analysts Raise Their Forecasts On Cogent Communications After Q2 Results

Author: Avi Kapoor | August 09, 2024 02:17pm

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) reported a loss for the second quarter on Thursday.

The company posted a quarterly loss of 68 cents per share which beat the analyst consensus estimate for a loss of $1.25 per share. The company reported quarterly sales of $260.400 million which missed the analyst consensus estimate of $264.445 million.

Cogent Communications shares gained 2.7% to trade at $70.64 on Friday.

These analysts made changes to their price targets on Cogent Communications following earnings announcement.

• Goldman Sachs analyst James Schneider maintained Cogent Comms with a Neutral and raised the price target from $56 to $62.
• TD Cowen analyst Gregory Williams maintained the stock with a Buy and increased the price target from $78 to $82.

Considering buying CCOI stock? Here’s what analysts think:

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Posted In: CCOI