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

Coveo Solutions Inc. (TSE:CVO) shares dropped 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 mid-day 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 reduced their target price on shares of Coveo Solutions from C$12.00 to C$9.50 and set a “buy” rating for the company in a report on Friday, January 30th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Coveo Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of C$10.20.

Coveo Solutions Trading Down 18.5%

The company has a quick ratio of 3.14, a current ratio of 1.47 and a debt-to-equity ratio of 16.61. The stock has a fifty day simple moving average of C$4.43 and a 200 day simple moving average of C$5.53. The firm has a market capitalization of C$357.68 million, a P/E ratio of -10.86, a PEG ratio of 0.09 and a beta of 1.33.

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