Coveo Solutions (TSE:CVO) Stock Price Down 8.5% - Here's Why

Key Points

• Coveo Solutions Inc. shares dropped 8.5% to C$8.25, with trading volume down 11% compared to the average session.
• Recent analyst reports show a mixed outlook, with price targets varying from C$7.50 to C$13.00, and a consensus target of C$10.58 indicating a generally positive sentiment.
• The company specializes in AI-powered platforms, offering applied solutions aimed at enhancing customer experiences and driving business growth.

Coveo Solutions Inc. (TSE:CVO - Get Free Report) dropped 8.5% during trading on Friday . The stock traded as low as C$7.80 and last traded at C$8.25. Approximately 117,851 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 131,752 shares. The stock had previously closed at C$9.02.

Wall Street Analysts Forecast Growth

CVO has been the topic of several research reports. Canaccord Genuity Group raised their price target on shares of Coveo Solutions from C$12.00 to C$13.00 and gave the company a "buy" rating in a report on Friday. Royal Bank Of Canada lifted their price objective on shares of Coveo Solutions from C$11.00 to C$12.00 and gave the company an "outperform" rating in a research note on Friday. TD Securities lifted their price objective on shares of Coveo Solutions from C$10.00 to C$12.00 and gave the company a "buy" rating in a research note on Friday. Stifel Nicolaus lifted their price objective on shares of 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. Finally, National Bankshares dropped their price objective on shares of Coveo Solutions from C$8.50 to C$7.50 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Coveo Solutions presently has an average rating of "Buy" and a consensus target price of C$11.25.

Coveo Solutions Trading Down 7.2%

The company has a quick ratio of 3.14, a current ratio of 1.85 and a debt-to-equity ratio of 5.36. The business's 50 day moving average is C$7.73 and its 200-day moving average is C$6.70. The firm has a market cap of C$562.40 million, a P/E ratio of -51.63, a price-to-earnings-growth ratio of 0.09 and a beta of 0.75.

About Coveo Solutions

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.