Coveo Solutions Inc. (TSE:CVO) Receives Average Recommendation of “Buy” from Analysts

Coveo Solutions Inc. (TSE:CVO) has earned a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$10.94.

Several equities analysts have issued reports on CVO shares. Royal Bank of Canada cut their target price on Coveo Solutions from C$13.00 to C$11.00 in a research note on Thursday, August 8th. Canaccord Genuity Group decreased their target price on shares of Coveo Solutions from C$12.00 to C$11.00 and set a “buy” rating for the company in a research report on Monday, July 15th. BMO Capital Markets lowered their target price on shares of Coveo Solutions from C$10.50 to C$10.00 in a research note on Thursday, August 8th. TD Securities decreased their price objective on Coveo Solutions from C$12.00 to C$11.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Stifel Nicolaus dropped their target price on Coveo Solutions from C$12.00 to C$10.00 in a research note on Thursday, August 8th.

Coveo Solutions Price Performance

CVO opened at C$7.25 on Thursday. The company has a market capitalization of C$390.27 million, a price-to-earnings ratio of -24.17, a PEG ratio of 0.09 and a beta of 0.75. The company has a current ratio of 1.71, a quick ratio of 3.14 and a debt-to-equity ratio of 6.05. Coveo Solutions has a 12-month low of C$5.07 and a 12-month high of C$12.48. The business’s fifty day simple moving average is C$5.88 and its 200-day simple moving average is C$6.91.

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