Cogent Communications (CCOI) PT Slashed at KeyBanc Following a 3Q25 Miss

KeyBanc analyst Brandon Nispel lowered the price target on Cogent Communications (NASDAQ: CCOI) to $30.00 (from $65.00) while maintaining an Overweight rating.

The analyst commented: "We remain OW CCOI on lower ests. and a lower PT due to lower estimates. 3Q results were below expectations; revenue declined more than expected, EBITDA was essentially flat, and the dividend was cut to essentially nothing without a buyback to replace it. While commentary suggested that 1x churn impacted 3Q and return to growth is expected in 4Q, the lack of execution toward the message has been evident. That said, with the stock down materially and one data center LOI announced (more could follow), Waves have contracts and IPv4 monetization should ramp, keeping us OW."

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