Coveo Solutions (TSE:CVO) Price Target Raised to C$7.00

Key Points

• TD raised Coveo Solutions’ price target from C$6.50 to C$7.00 and maintained a “buy” rating, implying 64.32% upside from the prior close.
• Analyst sentiment remains broadly positive, with six “buy” ratings and one “hold”; the consensus rating is “Moderate Buy” and the average price target is C$8.57.
• Coveo shares fell 1.6% to C$4.26, while the company reported quarterly revenue of C$54.77 million and a loss of C$0.09 per share.

Coveo Solutions (TSE:CVO - Get Free Report) had its target price hoisted by equities research analysts at TD from C$6.50 to C$7.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD's target price would suggest a potential upside of 64.32% from the company's previous close.

A number of other research firms have also commented on CVO. National Bank Financial reduced their price objective on shares of Coveo Solutions from C$7.00 to C$5.50 and set a "sector perform" rating on the stock in a research note on Wednesday, May 27th. BMO Capital Markets dropped 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 report on Thursday, May 28th. Finally, Stifel Nicolaus cut their price target on shares of Coveo Solutions from C$11.00 to C$9.00 and set a "buy" rating on the stock in a research report on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$8.57.

Coveo Solutions Trading Down 1.6%

Shares of CVO stock traded down C$0.07 on Friday, hitting C$4.26. The company had a trading volume of 135,665 shares, compared to its average volume of 227,200. Coveo Solutions has a twelve month low of C$3.59 and a twelve month high of C$9.53. The company has a debt-to-equity ratio of 16.57, a quick ratio of 3.14 and a current ratio of 1.42. The firm has a market cap of C$398.19 million, a P/E ratio of -14.20, a P/E/G ratio of 0.09 and a beta of 1.57. The stock's 50-day moving average is C$4.28 and its two-hundred day moving average is C$4.89.

Coveo Solutions (TSE:CVO - Get Free Report) 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 return on equity of 26.89% and a negative net margin of 19.27%.The company had revenue of C$54.77 million during the quarter. On average, equities research analysts anticipate that Coveo Solutions will post -0.2144225 earnings per share 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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