Coveo Solutions (TSE:CVO) Shares Up 10% – Here’s Why

Coveo Solutions Inc. (TSE:CVO)’s stock price was up 10% during trading on Monday . The stock traded as high as C$4.46 and last traded at C$4.42. Approximately 168,093 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 241,311 shares. The stock had previously closed at C$4.02.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVO shares. BMO Capital Markets decreased their target price on shares of Coveo Solutions from C$10.00 to C$6.00 and set an “outperform” rating on the stock in a research note on Thursday. Stifel Nicolaus reduced their price objective on Coveo Solutions from C$11.00 to C$9.00 and set a “buy” rating on the stock in a research report on Friday. TD lowered their target price on Coveo Solutions from C$9.50 to C$6.50 and set a “buy” rating for the company in a report on Thursday. Finally, National Bank Financial dropped their target price on Coveo Solutions from C$7.00 to C$5.50 and set a “sector perform” rating for the company in a research report on Wednesday, May 27th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$8.50.

Coveo Solutions Trading Up 10.7%

The company has a market cap of C$413.05 million, a price-to-earnings ratio of -14.83, a price-to-earnings-growth ratio of 0.09 and a beta of 1.33. The business’s fifty day moving average price is C$4.40 and its 200 day moving average price is C$5.49. The company has a debt-to-equity ratio of 16.57, a current ratio of 1.42 and a quick ratio of 3.14.

Coveo Solutions (TSE:CVO) last posted its quarterly earnings data on Wednesday, May 27th. The company reported C($0.03) earnings per share for the quarter. The company had revenue of C$54.02 million during the quarter. Coveo Solutions had a negative net margin of 19.24% and a negative return on equity of 26.86%. Research analysts anticipate that Coveo Solutions Inc. will post -0.2144225 earnings per share for the current fiscal year.

Coveo Solutions Company Profile

Coveo brings superior AI-Relevance to every point-of-experience, transforming how enterprises connect with their customers and employees to maximize business outcomes. Relevance is about moving from persona to person, the degree to which the enterprise-wide content, products, recommendations, and advice presented to a person online aligns easily with their context, needs, preferences, behavior and intent, setting the competitive experience gold standard. Every person’s journey is unique, and only AI can solve the complexity of tailoring experiences across massive, diverse audiences and large volumes and variety of content and products.