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.
週一,花旗集團分析師邁克爾·羅林斯上調了Cogent Communications Holdings Inc(納斯達克股票代碼:CCOI)的目標股價。
While wavelengths remain a longer-term growth opportunity, the company has fallen behind schedule, according to BofA Securities.
根據美銀證券的數據,儘管波長仍然是長期增長機會,但該公司卻落後於計劃。
Analyst David Barden downgraded the rating for Cogent Communications from Neutral to Underperform, while cutting the price target from $75 to $65.
分析師戴維·巴登將Cogent Communications的評級從中性下調至表現不佳,同時將目標股價從75美元下調至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 Communications的論點:巴登在降級報告中表示,對Sprint Wireline的收購已在一年多前完成,但該公司 「仍深深地沉浸在Sprint網絡整合中」,在利用波長機會獲利方面遠遠落後於計劃。
Check out other analyst stock ratings.
查看其他分析師股票評級。
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.
他補充說,第一季度的Wavelength銷售額爲330萬美元,第二季度爲360萬美元,低於華爾街的預期,「遠低於管理層在Sprint網絡收購結束時設定的目標」。
"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.
該分析師寫道:「管理層最初認爲到24年第四季度可以實現2000萬美元的波長銷售額,但由於工程複雜性(可克服),波長服務的供應時間仍然延長,因此撤回了這一指導。」
A positive inflection point for the business is likely to take place only in the back half of 2025, Barden stated.
巴登說,該業務的積極轉折點可能要到2025年下半年才會出現。
CCOI Price Action: Shares of Cogent Communications were down 2.82% to $72.62 at the time of publication on Wednesday.
CCOI價格走勢:週三發佈時,Cogent Communications的股價下跌2.82%,至72.62美元。
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