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，Cogent通信控股公司（納斯達克股票代碼：CCOI）收到了花旗集團分析師邁克爾·rollins的目標價格上調。
While wavelengths remain a longer-term growth opportunity, the company has fallen behind schedule, according to BofA Securities.
根據美銀美林證券的說法，儘管波道對公司而言仍然是一個長期增長機會，但公司的進展落後於計劃。
Analyst David Barden downgraded the rating for Cogent Communications from Neutral to Underperform, while cutting the price target from $75 to $65.
分析師大衛·巴登將Cogent通信的評級從中立下調爲弱勢，同時將價格目標從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通信論點：sprint wireline收購已於一年多之前完成，但該公司「仍然深陷sprint網絡整合之中」，在實現波道機會的貨幣化上落後於計劃，巴登在評級下調說明中表示。
Check out other analyst stock ratings.
查看其他分析師的股票評級。
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.
第一季度的波道銷售額爲330萬美元，第二季度爲360萬美元，均低於華爾街估值，也「遠低於sprint網絡收購完成時管理層公佈的目標」，他補充道。
"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.
「最初管理層認爲它可以在2024年第四季度實現2000萬美元的波道銷售額，但由於（可以克服的）工程複雜性，波道服務的供應時間仍然延長，因此撤回了這一預測，」分析師寫道。
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，業務的正面拐點可能只會在2025年下半年出現。
CCOI Price Action: Shares of Cogent Communications were down 2.82% to $72.62 at the time of publication on Wednesday.
Cogent Communications的股價行情：週三發佈時，Cogent Communications的股價下跌2.82%，至72.62美元。
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