Canaccord Genuity Group Forecasts Strong Price Appreciation for Coveo Solutions (TSE:CVO) Stock

Key Points

• Canaccord Genuity Group raised their target price for Coveo Solutions from C$12.00 to C$13.00, implying a 54.95% potential upside from the current stock price, and maintains a "buy" rating.
• Other analysts have varying outlooks, with National Bankshares lowering its target from C$8.50 to C$7.50, while Royal Bank of Canada and TD Securities have increased their targets to C$11.00 and C$12.00, respectively.
• Coveo Solutions currently trades at C$8.39, with a market capitalization of C$563.74 million and a P/E ratio of -51.75, indicating significant volatility and investor interest.

Coveo Solutions (TSE:CVO - Get Free Report) had its price objective upped by Canaccord Genuity Group from C$12.00 to C$13.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 54.95% from the stock's current price.

Several other analysts also recently issued reports on the company. National Bankshares reduced their price target on Coveo Solutions from C$8.50 to C$7.50 and set an "outperform" rating for the company in a research note on Friday, April 25th. Royal Bank Of Canada boosted their price target on Coveo Solutions from C$10.00 to C$11.00 and gave the stock an "outperform" rating in a report on Wednesday, May 21st. TD Securities raised their target price on shares of Coveo Solutions from C$10.00 to C$12.00 and gave the company a "buy" rating in a research report on Friday. Finally, Stifel Nicolaus upped their price objective on Coveo Solutions from C$11.00 to C$13.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Five analysts have rated the stock with a buy rating, According to MarketBeat, Coveo Solutions presently has an average rating of "Buy" and a consensus target price of C$11.25.

Coveo Solutions Price Performance

Shares of Coveo Solutions stock traded down C$0.63 during trading on Friday, reaching C$8.39. The company's stock had a trading volume of 457,635 shares, compared to its average volume of 134,488. The company has a current ratio of 1.85, a quick ratio of 3.14 and a debt-to-equity ratio of 5.36. Coveo Solutions has a one year low of C$4.92 and a one year high of C$9.53. The stock has a market capitalization of C$563.74 million, a P/E ratio of -51.75, a price-to-earnings-growth ratio of 0.09 and a beta of 0.75. The stock has a 50-day moving average price of C$7.66 and a two-hundred day moving average price of C$6.65.

Coveo Solutions Company Profile

Coveo Solutions Inc is an AI-powered platform. It provides applied AI solutions enabling enterprises to deliver relevant digital experiences at scale. The company's solutions provide value to its customers by helping drive revenue growth, reduce customer support costs, increase customer satisfaction and website engagement, and improve employee proficiency and satisfaction.

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