Professional
Added to YB: 2026-05-14
Pitch date: 2026-05-12
CCOI [neutral]
Cogent Communications Holdings, Inc.
Author Info
Company Info
Cogent Communications Holdings, Inc., through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, South America, Europe, Oceania, and Africa.
Market Cap
$769.6M
Pitch Price
N/A
Price Target
200.00 (+1141%)
Dividend
0.50%
EV/EBITDA
13.60
P/E
-4.55
EV/Sales
3.70
Sector
Diversified Telecommunication Services
Category
turnaround
Cogent - What Now?
CCOI (holding update): Sprint Wireline acquisition struggled - $470M ARR→$156M, waves growth <100/mo vs 500 target, $140M network costs not initially disclosed. Refinancing $750M unsecured notes w/ secured debt, selling ~50MW DCs for ~$300M (likely to Antin), using proceeds to deleverage from 6.8x. Massive asset value: fiber network worth $3-5B, 20M IPv4s=$400M, IP transit=$1-2B. Sees $40-90 upside near-term via refinancing success, $200+ if waves scale (currently $55M ARR, +90% YoY). Bottom branch=$20 if ops don't improve.
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