Coveo Solutions (TSE:CVO) Shares Up 3.8% - Time to Buy?

Key Points

• Coveo Solutions shares rose 3.8% on Monday, trading as high as C$4.54 before closing at C$4.42, with volume roughly in line with its average daily level.
• Several analysts cut their price targets on the stock, but the overall view remains Moderate Buy with six Buy ratings, one Hold rating, and a consensus target price of C$8.50.
• The company reported Q1 earnings of C($0.03) per share on revenue of C$54.02 million, and it continues to post negative profitability metrics, including a negative net margin and return on equity.

Shares of Coveo Solutions Inc. (TSE:CVO - Get Free Report) rose 3.8% during trading on Monday . The company traded as high as C$4.54 and last traded at C$4.42. Approximately 240,368 shares changed hands during trading, an increase of 1% from the average daily volume of 238,478 shares. The stock had previously closed at C$4.26.

Analysts Set New Price Targets

Several research firms recently commented on CVO. National Bank Financial cut their target price 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 report on Wednesday, May 27th. Stifel Nicolaus decreased their price target on shares of Coveo Solutions from C$11.00 to C$9.00 and set a "buy" rating for the company in a research report on Friday, May 29th. TD dropped their price target on shares of Coveo Solutions from C$9.50 to C$6.50 and set a "buy" rating for the company in a research note on Thursday, May 28th. Finally, BMO Capital Markets cut their price target 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. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Coveo Solutions presently has an average rating of "Moderate Buy" and a consensus target price of C$8.50.

Coveo Solutions Price Performance

The firm has a market cap of C$410.26 million, a price-to-earnings ratio of -14.73, a P/E/G ratio of 0.09 and a beta of 1.57. The business's 50-day simple moving average is C$4.32 and its two-hundred day simple moving average is C$5.11. The company has a current ratio of 1.42, a quick ratio of 3.14 and a debt-to-equity ratio of 16.57.

Coveo Solutions (TSE:CVO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The company reported C($0.03) earnings per share for the quarter. Coveo Solutions had a negative return on equity of 26.89% and a negative net margin of 19.27%.The firm had revenue of C$54.02 million for the quarter. As a group, research analysts expect that Coveo Solutions Inc. will post -0.2144225 EPS for the current fiscal 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.

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