Coveo Solutions Inc. (TSE:CVO) Receives C$10.94 Consensus Target Price from Analysts

Coveo Solutions Inc. (TSE:CVO) has been given an average recommendation of “Buy” by the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$10.94.

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

Coveo Solutions Trading Down 3.6 %

Shares of CVO opened at C$5.56 on Friday. Coveo Solutions has a 1-year low of C$5.50 and a 1-year high of C$12.48. The company has a market capitalization of C$299.29 million, a P/E ratio of -18.67, a P/E/G ratio of 0.09 and a beta of 0.75. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.71 and a quick ratio of 3.14. The firm’s 50 day simple moving average is C$6.06 and its 200 day simple moving average is C$7.36.

Coveo Solutions (TSE:CVO) last posted its quarterly earnings data 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 net margin of 17.81% and a negative return on equity of 13.95%. The company had revenue of C$44.08 million for the quarter, compared to analysts’ expectations of C$43.87 million. Sell-side analysts forecast 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.