BMO Capital Markets Issues Positive Forecast for Coveo Solutions (TSE:CVO) Stock Price

Key Points

• BMO Capital Markets raised Coveo Solutions’ price target from C$6.00 to C$6.50 while maintaining an “outperform” rating, implying roughly 36% upside from the reported C$4.78 share price.
• Analyst sentiment is broadly positive: Coveo has five Buy and three Hold ratings, resulting in a “Moderate Buy” consensus and an average price target of C$7.71. TD also increased its target to C$7.50 and kept a Buy rating.
• Coveo reported quarterly revenue of C$57.57 million and a loss of C$0.04 per share. The company remains unprofitable, with a negative 12.74% net margin and analysts expecting a fiscal-year loss of C$0.21 per share.

Coveo Solutions (TSE:CVO - Get Free Report) had its price target upped by BMO Capital Markets from C$6.00 to C$6.50 in a research report issued to clients and investors on Friday, BayStreet reports. The firm currently has an "outperform" rating on the stock. BMO Capital Markets's target price suggests a potential upside of 35.98% from the stock's current price.

Several other analysts also recently commented on CVO. Scotia set a C$5.00 price objective on shares of Coveo Solutions and gave the company a "sector perform" rating in a research report on Tuesday, October 6th. Scotiabank upgraded Coveo Solutions to a "hold" rating in a research report on Tuesday, October 6th. Finally, TD upped their price target on Coveo Solutions from C$7.00 to C$7.50 and gave the stock a "buy" rating in a research note on Friday. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$7.71.

Coveo Solutions Stock Performance

TSE CVO traded up C$0.01 during trading hours on Friday, hitting C$4.78. The company's stock had a trading volume of 212,444 shares, compared to its average volume of 218,654. Coveo Solutions has a 12 month low of C$3.59 and a 12 month high of C$7.52. The company has a debt-to-equity ratio of 17.00, a current ratio of 1.39 and a quick ratio of 3.14. The company's 50 day simple moving average is C$4.42 and its two-hundred day simple moving average is C$4.74. The company has a market cap of C$444.24 million, a P/E ratio of -23.90, a price-to-earnings-growth ratio of 0.09 and a beta of 1.40.

Coveo Solutions (TSE:CVO - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported C($0.04) EPS for the quarter. The company had revenue of C$57.57 million during the quarter. Coveo Solutions had a negative return on equity of 19.77% and a negative net margin of 12.74%. As a group, sell-side analysts expect that Coveo Solutions will post -0.21 EPS for the current fiscal year.

About Coveo Solutions

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.

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