Cogent Communications Holdings, Inc.

NasdaqGS:CCOI Stock Report

Market Cap: US$753.3m

Cogent Communications Holdings Future Growth

Future criteria checks 0/6

Cogent Communications Holdings is forecast to grow earnings and revenue by 25.8% and 6.9% per annum respectively while EPS is expected to grow by 26.6% per annum.

Key information

25.8%

Earnings growth rate

26.57%

EPS growth rate

Telecom earnings growth10.4%
Revenue growth rate6.9%
Future return on equityn/a
Analyst coverage

Good

Last updated06 May 2026

Recent future growth updates

Recent updates

Narrative Update • May 09

CCOI: Weaker Core Revenue Trends Will Drive A More Cautious Thesis

Cogent Communications Holdings' updated analyst price target has moved lower from $21.00 to $14.00 as analysts factor in more conservative revenue growth, a slightly higher discount rate, and a reduced future P/E assumption, partly offset by a modestly higher profit margin outlook. Analyst Commentary Recent Street research on Cogent Communications Holdings has tilted cautious, with several bearish analysts trimming price targets and flagging execution and growth risks.
Seeking Alpha • May 04

Cogent Communications Q1: Not That Bad Of A Report, But Execution Risks Remain High

Summary Cogent Communications reported Q1 revenue of $239.13m, down 3.2%, with continued declines in legacy off-net segments and a 77% share price drop since prior coverage. Profitability is improving, with GAAP gross profit at 23.4% and EBITDA margin up to 18.9%, but GAAP net margin remains negative at -16.5%. CCOI's high debt load ($2.57B) and weak cash position ($140m) pose significant risk, especially as operational improvements are expected to slow in 2026. I maintain a Hold rating, awaiting stabilization in profitability, cash flows, and asset monetization—especially data center sales—before considering a position. Read the full article on Seeking Alpha
Narrative Update • Apr 21

CCOI: Future Data Center Deals And Refinancing Will Support Balance Sheet Recovery

Analysts have trimmed their average price targets on Cogent Communications Holdings by several dollars into a roughly $21 to $40 range, citing softer Q4 results, continued pressure from off net and wavelength revenue, and uncertainty around data center transactions and future growth visibility. Analyst Commentary Recent research notes show a clear reset in expectations for Cogent Communications Holdings, with price targets generally clustered in the low to mid US$20s and a few higher conviction views extending up to US$40.
Narrative Update • Apr 07

CCOI: Future Data Center Sales And Refinancing Will Support Balance Sheet Recovery

Narrative Update on Cogent Communications Holdings The consolidated analyst price target for Cogent Communications Holdings has moved lower by several dollars into a mid $20s range, as analysts factor in softer Q4 results, continued pressure from off net revenue decay, slower waves growth, and uncertainty around data center sale execution and balance sheet moves. Analyst Commentary Recent research updates cluster around a common theme, with most price targets moving into a mid to high $20s range and a few outliers higher.
Narrative Update • Mar 24

CCOI: Future Data Center Sales And Refinancing Should Support Balance Sheet Recovery

The analyst price target for Cogent Communications Holdings has been trimmed by around $0.10 to reflect a slightly higher discount rate and modestly lower profit margin assumptions, as analysts react to softer Q4 results, ongoing revenue pressure in off net and wavelength services, and uncertainty around data center sales and balance sheet progress. Analyst Commentary Street research has turned more cautious on Cogent Communications Holdings, with several firms cutting price targets after Q4 results and updates on data center and wavelength activity.
Narrative Update • Mar 08

CCOI: Future Data Center Sales And Refinancing Plans Will Support Recovery

Our updated narrative price target for Cogent Communications Holdings moves lower by about $2.40 to $26.27. This reflects analysts' recent target cuts into the low $20s to $40 range after softer Q4 results, slower waves growth, and uncertainty around planned data center sales and balance sheet outcomes.
Narrative Update • Feb 22

CCOI: Future Wavelength Contracts Will Support Recovery Despite Recent Execution Concerns

Analysts have trimmed their fair value estimate for Cogent Communications Holdings by about $2.55 per share. This reflects reduced assumptions for revenue growth and profit margins, alongside recent price target cuts and calls for clearer improvement in core business trends.
Narrative Update • Feb 06

CCOI: Trimmed Price Outlook And Margin Assumptions Will Shape Fairly Balanced Thesis

Analysts have trimmed their price target on Cogent Communications Holdings by US$4, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. Analyst Commentary Bearish analysts trimming their price targets on Cogent Communications Holdings are signaling a more cautious stance on how the current valuation lines up with the company’s execution and growth profile.
Narrative Update • Jan 23

CCOI: Dividend Reset And Wavelength Headwinds Will Pressure Future Equity Story

Narrative Update: Cogent Communications Holdings The analyst price target for Cogent Communications Holdings has been reduced by $2 to $21, as analysts factor in recent dividend and buyback changes, a focus on delevering, and rising competitive pressure in the wavelength market. Analyst Commentary Bearish analysts have been trimming their price targets on Cogent Communications Holdings and highlighting a more cautious stance around both capital allocation and competitive positioning.
Narrative Update • Jan 08

CCOI: Dividend Reset And Wavelength Competition Will Shape Balanced Risk Outlook

Analysts have trimmed their price expectations for Cogent Communications Holdings to about $25 from $30, citing dividend and buyback cuts, a focus on reducing leverage, and rising competitive pressure in the wavelength market as key drivers of the revised outlook. Analyst Commentary Recent research on Cogent Communications Holdings has leaned cautious, with several bearish analysts pointing to a mix of capital allocation changes and competitive developments as reasons for a more conservative stance on the stock.
Narrative Update • Dec 22

CCOI: Dividend Reset And Wavelength Competition Will Shape Risk-Reward Outlook

Analysts have reduced their fair value estimate for Cogent Communications Holdings to $23 from $30 per share. This change reflects a higher perceived risk profile and competitive headwinds in wavelength services, despite slightly better margin expectations and a lower projected future P/E multiple.
Analysis Article • Dec 13

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock Rockets 26% As Investors Are Less Pessimistic Than Expected

Those holding Cogent Communications Holdings, Inc. ( NASDAQ:CCOI ) shares would be relieved that the share price has...
Narrative Update • Dec 07

CCOI: Dividend Reset And Deleveraging Will Support Future Wavelength Recovery Potential

Analysts have trimmed their price target for Cogent Communications Holdings by $5 to $25 per share as they factor in the new capital allocation stance, including the sharp dividend reduction and buyback pause, alongside rising competitive pressures in wavelength services. Analyst Commentary Analyst sentiment around Cogent Communications remains mixed, with recent research highlighting both potential upside from a strengthened balance sheet and mounting competitive and execution risks in its wavelength business.
Narrative Update • Nov 23

CCOI: Dividend And Buyback Pause Will Enable Focus On Lowering Leverage

Analysts have lowered their fair value price target for Cogent Communications Holdings significantly, reducing it from approximately $44.55 to $31.18. They cite weaker revenue growth prospects, higher discount rates, and recent negative sentiment around capital allocation and competitive pressures as reasons for this change.
Narrative Update • Nov 07

CCOI: Dividend Cut And Deleveraging Will Support Future Cash Flow Strength

Analysts have lowered their price target for Cogent Communications Holdings by $3.18 to $44.55. They cite the recent dividend cut, paused buybacks, and intensifying competition in wavelength services as key factors driving their revised outlook.
Narrative Update • Aug 08

High-capacity Data Connectivity And Digital Networks Will Drive Success

Despite an improved consensus revenue growth forecast, a higher discount rate has more than offset the positive outlook, resulting in a significant reduction in Cogent Communications' consensus analyst price target from $68.73 to $57.91. What's in the News Board approved a regular quarterly dividend of $1.015 per share, a 0.5% increase from the prior quarter and 3.0% higher year-over-year.
Analysis Article • Aug 05

Getting In Cheap On Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Is Unlikely

NasdaqGS:CCOI 1 Year Share Price vs Fair Value Explore Cogent Communications Holdings's Fair Values from the Community...
Analysis Article • May 13

Cogent Communications Holdings (NASDAQ:CCOI) Is Increasing Its Dividend To $1.01

The board of Cogent Communications Holdings, Inc. ( NASDAQ:CCOI ) has announced that it will be paying its dividend of...
Analysis Article • May 05

Is Cogent Communications Holdings (NASDAQ:CCOI) Using Too Much Debt?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Seeking Alpha • Apr 16

Cogent Communications: Avoid This Dividend Trap

Summary Cogent Communications' acquisition of Sprint wireline assets has boosted revenue but hurt net income, leading to an eroded balance sheet. Despite financial struggles, Cogent continues to raise dividends, attracting yield hunters but risking unsustainability due to declining profitability and increasing leverage ratios. Operating cash flow remains weak, with dividends outpacing earnings, funded by rising debt, pushing the net leverage ratio to a concerning 5.1x. Cogent's financial metrics lag sector medians, making it a dividend trap; a dividend cut is necessary to avoid further financial deterioration. Read the full article on Seeking Alpha
Analysis Article • Apr 09

More Unpleasant Surprises Could Be In Store For Cogent Communications Holdings, Inc.'s (NASDAQ:CCOI) Shares After Tumbling 29%

Cogent Communications Holdings, Inc. ( NASDAQ:CCOI ) shareholders that were waiting for something to happen have been...
User avatar
New Narrative • Feb 09

Company Will Capitalize On Data Center Demand By Converting Former Sprint Facilities

Integration of the Sprint acquisition is expected to improve margins and reduce costs, enhancing EBITDA and net margins by mid-2026.
Analysis Article • Feb 04

Cogent Communications Holdings (NASDAQ:CCOI) Is Carrying A Fair Bit Of Debt

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Seeking Alpha • Jan 20

Cogent Communications: Has A Lot To Prove To Everyone

Summary Cogent Communications Holdings, Inc. has been underperforming, with the Sprint acquisition failing to improve profitability and operational efficiency, making the stock unattractive at its current valuation. The company's revenue growth is largely acquisition-driven, with core revenue showing minimal growth and significant debt raising concerns about financial stability. Management needs to streamline operations, cut unprofitable segments, and improve margins to justify any future investment, but the current outlook remains bleak. Despite optimistic growth assumptions, the DCF valuation indicates CCOI stock is overvalued at $21.35 per share, leading me to pass on investing for now. Read the full article on Seeking Alpha
Analysis Article • Jan 09

Unpleasant Surprises Could Be In Store For Cogent Communications Holdings, Inc.'s (NASDAQ:CCOI) Shares

Cogent Communications Holdings, Inc.'s ( NASDAQ:CCOI ) price-to-sales (or "P/S") ratio of 3.6x may look like a poor...
Analysis Article • Oct 22

Would Cogent Communications Holdings (NASDAQ:CCOI) Be Better Off With Less Debt?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Sep 25

Some Confidence Is Lacking In Cogent Communications Holdings, Inc.'s (NASDAQ:CCOI) P/S

When close to half the companies in the Telecom industry in the United States have price-to-sales ratios (or "P/S...
Seeking Alpha • Sep 20

Cogent Communications: Navigating The Stock's Surge, Assessing Valuation And Future Growth

Summary Cogent Communications is rated a buy due to its significant upside potential, supported by a Dividend Discount Model (DDM) valuation of $107.15. The company's strategic focus on expanding optical wavelength services, bolstered by the Sprint acquisition, positions it for long-term growth. Nonetheless, potential risks including execution challenges in monetizing optical wavelength services and competitive pressures remain. Read the full article on Seeking Alpha
Seeking Alpha • Jul 04

Cogent Communications: Enjoy Attractive Dividend Yield While The Business Grows Steadily

Summary Cogent Communications is recommended as a buy due to the positive demand outlook and strong secular tailwinds. CCOI provides internet access to corporates, data centers, and enterprises, with potential growth from IPv4 addresses. CCOI offers an attractive dividend yield of ~7% and a potential total return upside of 37% in the base case. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NasdaqGS:CCOI - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20281,078-115-41418
12/31/20271,011-14911110112
12/31/2026964-173666411
3/31/2026889-170-208-32N/A
12/31/2025897-182-198-11N/A
9/30/2025907-195-18710N/A
6/30/2025922-216-233-13N/A
3/31/2025937-191-2048N/A
12/31/2024956-204-204-9N/A
9/30/202497639-264-72N/A
6/30/202499946-263-104N/A
3/31/20249871,202-1471N/A
12/31/20238911,273-11217N/A
9/30/20237871,074-3102N/A
6/30/20236721,123104208N/A
3/31/20235881076160N/A
12/31/2022584595174N/A
9/30/20225792399173N/A
6/30/20225764495167N/A
3/31/202257430100173N/A
12/31/202157148100170N/A
9/30/202156823101172N/A
6/30/2021563596157N/A
3/31/202155816100159N/A
12/31/2020553684140N/A
9/30/20205492099149N/A
6/30/202054439101149N/A
3/31/202053838102149N/A
12/31/201953138N/A149N/A
9/30/201952437N/A143N/A
6/30/201951832N/A142N/A
3/31/201951331N/A132N/A
12/31/201850829N/A134N/A
9/30/201850115N/A125N/A
6/30/201849411N/A122N/A
3/31/20184859N/A118N/A
12/31/20174746N/A112N/A
9/30/201746516N/A114N/A
6/30/201745516N/A108N/A
3/31/201744616N/A104N/A
12/31/201643815N/A108N/A
9/30/201642614N/A96N/A
6/30/201641913N/A97N/A
3/31/201641010N/A93N/A
12/31/20154015N/A84N/A
9/30/20153962N/A80N/A
6/30/2015388-1N/A72N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: CCOI is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: CCOI is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: CCOI is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: CCOI's revenue (6.9% per year) is forecast to grow slower than the US market (11.6% per year).

High Growth Revenue: CCOI's revenue (6.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if CCOI's Return on Equity is forecast to be high in 3 years time

Discover growth companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/14 12:07
End of Day Share Price 2026/05/14 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Cogent Communications Holdings, Inc. is covered by 26 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael FunkBofA Global Research
Walter PiecykBTIG
Gregory MillerCanaccord Genuity