Following these transactions, Bubeck holds 51,462 shares of Cogent Communications (NASDAQ:CCOI). The company maintains a healthy financial position with a current ratio of 2.03, indicating strong liquidity to meet its short-term obligations. The company maintains a healthy financial position with a current ratio of 2.03, indicating strong liquidity to meet its short-term obligations.
Following these transactions, Bubeck holds 51,462 shares of Cogent Communications. The company maintains a healthy financial position with a current ratio of 2.03, indicating strong liquidity to meet its short-term obligations.
Following these transactions, Bubeck holds 51,462 shares of Cogent Communications.
In other recent news, Cogent Communications reported mixed financial results for the third quarter of 2024, with total revenue reaching $257.2 million and an increase in EBITDA to $60.9 million. Despite a reduction in low-margin off-net connections and a decrease in the T-Mobile commercial services agreement, the company realized significant cost savings from the Sprint Global Markets acquisition, leading to a surge in wavelength and IPv4 leasing revenue. In analyst developments, UBS initiated coverage on Cogent Communications stock with a Buy rating, anticipating that the company will soon reap the benefits from its previous acquisition of Sprint's wireline assets. UBS predicts over $500 million in EBITDA for Cogent by 2028, exceeding current street estimates. Other recent developments include Cogent's plan to add over 100 carrier-neutral data centers annually for the next several years, focusing on serving small and medium-sized businesses in North American multi-tenant office buildings and expanding profitable services for large enterprise customers. Despite facing challenges such as an 18.2% year-over-year decline in enterprise business revenues and a 14.8% decrease in off-net revenue, Cogent remains optimistic about its future financial performance.
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