Coveo Solutions (TSE:CVO) Shares Up 0.2% - Should You Buy?

Key Points

• Coveo Solutions' stock rose by 0.2% on Wednesday, trading last at C$9.21 with a decline in volume compared to its average daily trades.
• Multiple analysts have increased their price targets for Coveo Solutions, with a consensus rating of "Buy" and an average target price of C$11.50.
• The company is identified as an AI-powered platform that enhances customer experiences and engagement, aiming to drive revenue growth and improve satisfaction.

Coveo Solutions Inc. (TSE:CVO - Get Free Report) shares shot up 0.2% on Wednesday . The company traded as high as C$9.29 and last traded at C$9.21. 131,528 shares were traded during trading, a decline of 6% from the average session volume of 139,701 shares. The stock had previously closed at C$9.19.

Wall Street Analysts Forecast Growth

Several analysts have commented on CVO shares. TD Securities boosted their price target on shares of Coveo Solutions from C$10.00 to C$12.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Canaccord Genuity Group increased their price objective on shares of Coveo Solutions from C$12.00 to C$13.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Stifel Nicolaus raised their target price 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, Royal Bank Of Canada lifted their price objective on shares of Coveo Solutions from C$11.00 to C$12.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of C$11.50.

Coveo Solutions Stock Up 1.2%

The firm has a market cap of C$894.80 million, a PE ratio of -38.83, a PEG ratio of 0.09 and a beta of 0.73. The business's 50 day moving average price is C$8.72 and its 200 day moving average price is C$7.22. The company has a debt-to-equity ratio of 5.36, a current ratio of 1.85 and a quick ratio of 3.14.

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.