Coveo Solutions (TSE:CVO) Trading Up 1.5%

Coveo Solutions Inc. (TSE:CVO) shares were up 1.5% during mid-day trading on Monday . The stock traded as high as C$6.15 and last traded at C$5.99. Approximately 129,509 shares changed hands during trading, an increase of 2% from the average daily volume of 126,831 shares. The stock had previously closed at C$5.90.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CVO shares. Eight Capital lowered their target price on shares of Coveo Solutions from C$16.00 to C$13.50 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. Scotiabank lowered their price objective on shares of Coveo Solutions from C$14.00 to C$11.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 4th. Stifel Nicolaus lowered their price objective on shares of Coveo Solutions from C$12.00 to C$10.00 in a research note on Thursday, August 8th. Royal Bank of Canada lowered their price objective on shares of Coveo Solutions from C$13.00 to C$11.00 in a research note on Thursday, August 8th. Finally, National Bankshares reduced their target price on shares of Coveo Solutions from C$14.00 to C$10.00 and set an “outperform” rating for the company in a report on Tuesday, June 4th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$10.94.

Coveo Solutions Price Performance

The firm has a market capitalization of C$322.44 million, a P/E ratio of -19.97, a price-to-earnings-growth ratio of 0.09 and a beta of 0.76. The company has a current ratio of 1.71, a quick ratio of 3.14 and a debt-to-equity ratio of 6.05. The firm has a 50 day moving average price of C$6.40 and a 200-day moving average price of C$8.01.

Coveo Solutions (TSE:CVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported C($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.04) by C($0.04). Coveo Solutions had a negative net margin of 17.81% and a negative return on equity of 13.95%. The business had revenue of C$44.08 million for the quarter, compared to analysts’ expectations of C$43.87 million. On average, analysts expect that Coveo Solutions Inc. will post -0.2144225 earnings per share for the current year.

About Coveo Solutions

Coveo Solutions Inc provides AI platforms that enable individualized, connected, and trusted digital experiences. The Relevance Cloud platform, an AI solution that integrates AI search, recommendations, GenAI answering, AI models, and analytics across various digital domains; and is designed for scale, security, and compliance and integrates into enterprise ecosystems as a cloud-native SaaS, multi-tenant, API-first, and headless platform.