Coveo Solutions (TSE:CVO) Stock Price Down 5.4% - Time to Sell?

Key Points

• Coveo Solutions shares fell 5.4% to C$4.18, with trading volume down 54% from the average session.
• Analyst sentiment remains positive overall, with five Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of C$8.00, although several analysts recently lowered their targets.
• The company reported a quarterly loss of C$0.09 per share on C$54.77 million in revenue and continues to post negative profitability metrics, including a negative net margin of 12.74% and negative return on equity.

Coveo Solutions Inc. (TSE:CVO - Get Free Report) dropped 5.4% during trading on Tuesday . The stock traded as low as C$4.15 and last traded at C$4.18. 102,316 shares traded hands during trading, a decline of 54% from the average session volume of 220,867 shares. The stock had previously closed at C$4.42.

Analyst Ratings Changes

Several research analysts have weighed in on CVO shares. TD boosted their price target on Coveo Solutions from C$6.50 to C$7.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Stifel Nicolaus cut their price objective on Coveo Solutions from C$11.00 to C$9.00 and set a "buy" rating for the company in a report on Friday, May 29th. BMO Capital Markets cut their price objective on Coveo Solutions from C$10.00 to C$6.00 and set an "outperform" rating for the company in a report on Thursday, May 28th. Finally, National Bank Financial decreased their target price on shares of Coveo Solutions from C$7.00 to C$5.50 and set a "sector perform" rating for the company in a research note on Wednesday, May 27th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$8.00.

Coveo Solutions Stock Performance

The company has a market capitalization of C$388.48 million, a P/E ratio of -20.90, a PEG ratio of 0.09 and a beta of 1.48. The stock's fifty day moving average price is C$4.37 and its 200-day moving average price is C$4.54. The company has a debt-to-equity ratio of 17.00, a quick ratio of 3.14 and a current ratio of 1.39.

Coveo Solutions (TSE:CVO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported C($0.09) EPS for the quarter. The business had revenue of C$54.77 million for the quarter. Coveo Solutions had a negative return on equity of 19.77% and a negative net margin of 12.74%. As a group, research analysts anticipate that Coveo Solutions Inc. will post -0.2144225 EPS 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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