Coveo Solutions (TSE:CVO) Shares Down 19.3% on Analyst Downgrade

Coveo Solutions Inc. (TSE:CVO) shares were down 19.3% during mid-day trading on Thursday after National Bank Financial lowered their price target on the stock from C$7.00 to C$5.50. National Bank Financial currently has a sector perform rating on the stock. Coveo Solutions traded as low as C$3.76 and last traded at C$3.76. Approximately 240,007 shares traded hands during trading, an increase of 13% from the average daily volume of 213,083 shares. The stock had previously closed at C$4.66.

Separately, TD Securities lowered their target price on shares of Coveo Solutions from C$12.00 to C$9.50 and set a “buy” rating on the stock in a report on Friday, January 30th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$10.20.

Coveo Solutions Stock Performance

The company has a market capitalization of C$357.68 million, a P/E ratio of -10.86, a price-to-earnings-growth ratio of 0.09 and a beta of 1.33. The business has a 50 day moving average of C$4.43 and a 200 day moving average of C$5.53. The company has a quick ratio of 3.14, a current ratio of 1.47 and a debt-to-equity ratio of 16.61.

Coveo Solutions (TSE:CVO) last released its quarterly earnings data on Wednesday, May 27th. The company reported C($0.03) earnings per share (EPS) for the quarter. The firm had revenue of C$54.02 million during the quarter. Coveo Solutions had a negative return on equity of 28.39% and a negative net margin of 22.49%. On average, sell-side analysts predict that Coveo Solutions Inc. will post -0.2144225 earnings per share for the current 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.