Coveo Solutions (TSE:CVO) Stock Price Down 4.2% - Here's Why

Key Points

• Coveo Solutions' stock price decreased by 4.2%, trading as low as C$8.52 and last at C$8.58, with trading volume down 35% from its average.
• Several analysts have raised their price targets for Coveo Solutions, with Canaccord Genuity, TD Securities, and Royal Bank of Canada adjusting their targets to C$13.00, C$12.00, and C$12.00 respectively, all maintaining "buy" or "outperform" ratings.
• The company holds a market capitalization of C$823.76 million and has a debt-to-equity ratio of 5.36, indicating a high level of leverage.

Coveo Solutions Inc. (TSE:CVO - Get Free Report) was down 4.2% during mid-day trading on Thursday . The company traded as low as C$8.52 and last traded at C$8.58. Approximately 92,142 shares changed hands during trading, a decline of 35% from the average daily volume of 141,354 shares. The stock had previously closed at C$8.96.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CVO shares. Canaccord Genuity Group raised their price target on Coveo Solutions from C$12.00 to C$13.00 and gave the stock a "buy" rating in a report on Friday, August 1st. TD Securities raised their price target on Coveo Solutions from C$10.00 to C$12.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada raised their price target on Coveo Solutions from C$11.00 to C$12.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$11.50.

Coveo Solutions Stock Performance

The company has a debt-to-equity ratio of 5.36, a current ratio of 1.85 and a quick ratio of 3.14. The stock has a market cap of C$823.76 million, a price-to-earnings ratio of -35.75, a P/E/G ratio of 0.09 and a beta of 0.71. The stock's 50-day moving average is C$8.85 and its 200 day moving average is C$7.56.

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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