CCOI Price Prediction Next Week
Analysis and Insights
News Sentiment and Insider Activity:
Insider Sales: Recent insider activity shows negative sentiment, with Sheryl Lynn Kennedy selling 1,425 shares, representing 12.3% of her holdings. Insiders have conducted 19 sales and no purchases in the past six months, indicating a lack of confidence in the stock's short-term performance.
Institutional Movements: While 133 institutional investors increased their positions, 190 reduced theirs, reflecting mixed sentiment among large shareholders.
Analyst Ratings: Wells Fargo analyst Eric Luebchow maintained a Sell rating with a price target of $60.00, despite the stock closing at $73.07. The analyst consensus is Moderate Buy with a higher price target of $82.67.
Technical Analysis:
RSI: The RSI values (28.88, 31.00, 32.29) indicate the stock is in oversold territory, suggesting potential for a short-term rebound.
MACD: The MACD (-2.52) and MACD Histogram (-0.75) indicate bearish momentum.
Moving Averages: The stock is below its 20, 50, and 200-day moving averages (74.75, 75.48, 71.56), signaling a bearish trend.
Fibonacci Levels: Resistance levels at 74.06 and 75.92, with support at 66.14 and 63.11. The current price of $70.645 is near the lower end of the resistance range.
Bollinger Bands: The stock is near the lower band, suggesting it may be oversold and due for a bounce.
Price Prediction and Recommendation:
Based on the analysis, the stock is expected to trade between $69.81 and $71.03 next week. Given the bearish sentiment from insiders and analysts, coupled with the technical indicators, the recommendation is to sell or avoid taking long positions.
CCOI Similar Chart Price Prediction
The price of CCOI is predicted to go up 13.22%, based on the high correlation periods with TG. The similarity of these two price pattern on the periods is 98.34%.
CCOI
TG
Up: 13.22%Similarity: 98.34%
CCOI Revenue Forecast
CCOI EPS Forecast
CCOI FAQs
What is CCOI revenue forecast for next quarter？
CCOI VS S&P500
Unburdened by legacy services or networks, Cogent can capitalize on the latest technologies without realizing excessive costs or cannibalizing more lucrative revenue streams.
Cogent's low-cost structure, a byproduct of how it built its network, leaves other firms unable to profitably compete on pricing for comparable services.
The cash infusion from taking on the legacy Sprint wireline business far exceeds the near-term losses that it will produce. The physical network Cogent received solidifies the cost advantage in its core business.
CCOI Analyst's Forecast
Christopher Schoell
UBS
Strong Buy
2024-11-14
Price Target
$102
Upside
+31.16%
UBS analyst Christopher Schoell initiated coverage of Cogent with a Buy rating and $102 price target. The company is on the cusp of realizing the benefits of its prior Sprint (S) wireline acquisition from T-Mobile (TMUS ) that was closed mid-2023, including the transformation of a cash burning asset into a growing and profitable wavelength business with a $2B total addressable market, the analyst tells investors in a research note. While scaling has been slower in 2024, UBS expects performance to inflect in FY25 and beyond as network reconfiguration comes to a close, the firm adds.
