Professional
Added to YB: 2024-06-21
Pitch date: 2024-06-18
CCOI [bullish]
Cogent Communications Holdings, Inc.
-65.54%
current return
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
$753.3M
Pitch Price
$53.31
Price Target
N/A
Dividend
0.51%
EV/EBITDA
13.53
P/E
-4.45
EV/Sales
3.68
Sector
Diversified Telecommunication Services
Category
turnaround
Recurve Capital - Cogent’s Network Transformation
CCOI missed $100M Wavelength rev target by 85% as it prioritized network reconfiguration over sales to avoid disappointing customers. Rings being built to efficiently provision wavelengths in 2wks vs 3-9mo industry avg. Optimistic on market share gains once rings done given route diversity, speed, price, despite bumpy start. $50M rev = ~$1 FCF/share.
Read full article (13 min)