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Equities research analysts at Davidson raised their target price on shares of Cogent Communications Group (NASDAQ:CCOI) from $35.00 to $42.00 in a research note issued to investors on Monday, American Banking and Market News reports.

Cogent Communications Group (NASDAQ:CCOI) opened at 42.00 on Monday. Cogent Communications Group has a 52-week low of $23.66 and a 52-week high of $42.20. The stock’s 50-day moving average is $39.80 and its 200-day moving average is $34.21. The company has a market cap of $1.938 billion and a P/E ratio of 503.61.

Cogent Communications Group (NASDAQ:CCOI) last released its earnings data on Friday, November 8th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.02. The company had revenue of $87.80 million for the quarter, compared to the consensus estimate of $88.33 million. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts expect that Cogent Communications Group will post $0.15 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Jefferies Group initiated coverage on shares of Cogent Communications Group in a research note to investors on Thursday, December 19th. They set a “hold” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Cogent Communications Group from $38.00 to $42.00 in a research note to investors on Monday, November 11th. They now have an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Cogent Communications Group from $35.00 to $39.00 in a research note to investors on Monday, November 11th. They now have a “buy” rating on the stock. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Cogent Communications Group presently has a consensus rating of “Hold” and a consensus target price of $33.00.

Cogent Communications Group, Inc is a facilities-based provider of Internet access and Internet Protocol (NASDAQ:CCOI), communications services.

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