Coveo Solutions (TSE:CVO) Shares Down 5.4% – Here’s Why

Coveo Solutions Inc. (TSE:CVO)’s stock price traded down 5.4% during mid-day trading on Tuesday . The company traded as low as C$4.15 and last traded at C$4.18. 102,316 shares were traded during trading, a decline of 54% from the average session volume of 220,867 shares. The stock had previously closed at C$4.42.

Analyst Ratings Changes

Several research analysts have commented on CVO shares. National Bank Financial cut their price target on Coveo Solutions from C$7.00 to C$5.50 and set a “sector perform” rating on the stock in a research report on Wednesday, May 27th. TD increased their price objective on Coveo Solutions from C$6.50 to C$7.00 and gave the company a “buy” rating in a report on Friday, July 31st. BMO Capital Markets lowered 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 report on Thursday, May 28th. Finally, Stifel Nicolaus cut their target price on shares of Coveo Solutions from C$11.00 to C$9.00 and set a “buy” rating on the stock in a report on Friday, May 29th. Five 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.com, Coveo Solutions presently has an average rating of “Moderate Buy” and a consensus target price of C$8.00.

Coveo Solutions Stock Performance

The company has a quick ratio of 3.14, a current ratio of 1.39 and a debt-to-equity ratio of 17.00. The stock has a fifty day moving average of C$4.37 and a 200-day moving average of C$4.53. The stock has a market cap of C$390.34 million, a PE ratio of -21.00, a price-to-earnings-growth ratio of 0.09 and a beta of 1.48.

Coveo Solutions (TSE:CVO) last posted its quarterly earnings data on Thursday, July 30th. The company reported C($0.09) EPS for the quarter. Coveo Solutions had a negative net margin of 12.74% and a negative return on equity of 19.77%. The company had revenue of C$54.77 million for the quarter. On average, equities 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.