Coveo Solutions (TSE:CVO) Given New C$7.50 Price Target at TD

Key Points

• TD raised Coveo Solutions’ price target to C$7.50 from C$7.00 and maintained a “buy” rating, implying 56.9% upside from the previous close.
• Analyst sentiment is broadly positive: five analysts rate the stock “buy” and three rate it “hold,” resulting in a “Moderate Buy” consensus and an average target of C$7.71.
• Coveo shares edged up 0.2% to C$4.78, while the company reported quarterly revenue of C$57.57 million and a loss of C$0.04 per share; profitability remained negative.

Coveo Solutions (TSE:CVO - Get Free Report) had its price target hoisted by equities research analysts at TD from C$7.00 to C$7.50 in a research note issued to investors on Friday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. TD's target price would suggest a potential upside of 56.90% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Scotiabank raised Coveo Solutions to a "hold" rating in a research note on Tuesday, October 6th. Scotia set a C$5.00 price target on Coveo Solutions and gave the stock a "sector perform" rating in a research report on Tuesday, October 6th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Coveo Solutions currently has an average rating of "Moderate Buy" and an average target price of C$7.71.

Coveo Solutions Stock Up 0.2%

Shares of CVO traded up C$0.01 during mid-day trading on Friday, reaching C$4.78. The company had a trading volume of 212,444 shares, compared to its average volume of 218,654. The company has a debt-to-equity ratio of 17.00, a quick ratio of 3.14 and a current ratio of 1.39. The firm has a 50-day moving average price of C$4.42 and a 200 day moving average price of C$4.74. Coveo Solutions has a 52 week low of C$3.59 and a 52 week high of C$7.52. The company has a market capitalization of C$444.24 million, a price-to-earnings 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) earnings per share for the quarter. The company had revenue of C$57.57 million for the quarter. Coveo Solutions had a negative net margin of 12.74% and a negative return on equity of 19.77%. On average, sell-side analysts forecast that Coveo Solutions will post -0.21 EPS for the current 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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