These Analysts Raise Their Forecasts On Cogent Communications After Q2 Results
Portfolio Pulse from Avi Kapoor
Cogent Communications Holdings, Inc. (NASDAQ:CCOI) reported a Q2 loss of 68 cents per share, beating the analyst consensus estimate of a $1.25 loss per share. However, quarterly sales of $260.4 million missed the consensus estimate of $264.445 million. Following the earnings announcement, Goldman Sachs and TD Cowen raised their price targets for CCOI. The stock gained 2.7% to trade at $70.64 on Friday.
August 09, 2024 | 6:17 pm
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Cogent Communications reported a Q2 loss of 68 cents per share, better than the expected $1.25 loss. Sales missed estimates. Analysts raised price targets, and the stock gained 2.7%.
Despite missing sales estimates, Cogent Communications' better-than-expected earnings per share and subsequent analyst price target increases are positive indicators. The stock's 2.7% gain reflects investor optimism.
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