Cogent Communications Faces Setback: Analyst Downgrades Stock Due To Delayed Growth
Cogent Communications Faces Setback: Analyst Downgrades Stock Due To Delayed Growth
On Monday, Cogent Communications Holdings Inc (NASDAQ:CCOI) received a price target increase from Citigroup analyst Michael Rollins.
周一，Cogent通信控股公司（NASDAQ：CCOI）获得了花旗集团分析师迈克尔·罗林斯的目标股价上调。
While wavelengths remain a longer-term growth opportunity, the company has fallen behind schedule, according to BofA Securities.
根据美银证券的说法，虽然光波长依然是一个长期的增长机会，但是该公司的进度已经落后了。
Analyst David Barden downgraded the rating for Cogent Communications from Neutral to Underperform, while cutting the price target from $75 to $65.
分析师大卫·巴登将Cogent通信的评级从中立调降至弱于大市，同时将目标股价从75美元下调至65美元。
The Cogent Communications Thesis: The Sprint Wireline acquisition was completed more than a year ago, but the company "remains deeply immersed in the Sprint network integration," falling well behind schedule in monetizing the wavelength opportunity, Barden said in the downgrade note.
Cogent通信论点：Sprint Wireline收购已经完成了一年多，但该公司在"Sprint网络整合"方面仍然深陷其中，并且在实现波长机会的货币化方面远远落后于计划。这是巴登在降级通知中说的。
Check out other analyst stock ratings.
查看其他分析师的股票评级。
Wavelength sales of $3.3 million in the first quarter and of $3.6 million in the second quarter came below Street estimates and "well below management's targets shared at the Sprint network acquisition closing," he added.
第一季度的波长销售额为330万美元，第二季度为360万美元，低于市场预期，并"远低于Sprint网络收购结束时管理层提出的目标"，他补充道。
"Management originally believed it could achieve a $20mn wavelength sales run-rate by 4Q24 but withdrew this guidance as provisioning times for wavelength services remained elongated due to (surmountable) engineering complexities," the analyst wrote.
分析师写道："管理层最初认为他们可以在2024年第四季度达到2000万美元的波长销售额，但由于（可克服的）工程复杂性，波长服务的配置时间仍然过长，因此撤回了这一指导"。
A positive inflection point for the business is likely to take place only in the back half of 2025, Barden stated.
巴登表示，对于业务而言，积极的转折点可能只会在2025年下半年出现。
CCOI Price Action: Shares of Cogent Communications were down 2.82% to $72.62 at the time of publication on Wednesday.
Cogent通信的股价行情：周三发布时，Cogent通信的股票下跌2.82%，至72.62美元。
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图像由Midjourney通过人工智能创建。