Cogent Sees Soft Revenue Growth in 1Q, Especially in Data Center Connectivity; Shares Overvalued
Cogent’s first-quarter results tracked slightly below our expectations, as total revenue grew 8% year over year, or 9% in constant currency, a noticeably slower pace than last year’s first quarter. The firm grew revenue from clients in the office building market at a pace similar to recent trends, however, this was offset by lumpiness in net-centric clients that purchase connectivity in data centers. Recent trends in both markets are in alignment with our long-term thesis. We believe that growth...Cogent Communications Holdings is a facilities-based provider of Internet access, private network services, and data center colocation space. The company's network is designed and optimized to transmit packet switched data. The company provides on-net Internet access services through its own facilities, which run from its network to its customers' premises. The company's on-net service consists of Internet access and private network services offered at speeds ranging from 100 Megabits per second to 100 Gigabits per second. In addition to providing its on-net services, the company provides Internet access and private network services to customers that are not located in buildings directly connected to its network.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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