Coveo Solutions (TSE:CVO) Stock Price Down 5.4% – What’s Next?

Coveo Solutions Inc. (TSE:CVO)’s share price was down 5.4% during mid-day trading on Tuesday . The stock traded as low as C$4.15 and last traded at C$4.18. 102,316 shares changed hands during trading, a decline of 54% from the average daily volume of 220,867 shares. The stock had previously closed at C$4.42.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CVO. BMO Capital Markets reduced their price objective on shares of Coveo Solutions from C$10.00 to C$6.00 and set an “outperform” rating for the company in a research report on Thursday, May 28th. National Bank Financial dropped their price objective 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. TD raised their target price on shares of Coveo Solutions from C$6.50 to C$7.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Stifel Nicolaus reduced their target price on shares of 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. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Coveo Solutions currently has an average rating of “Moderate Buy” and an average price target of C$8.00.

Coveo Solutions Stock Performance

The company has a market cap of C$388.48 million, a P/E ratio of -20.90, a price-to-earnings-growth ratio of 0.09 and a beta of 1.48. The company has a quick ratio of 3.14, a current ratio of 1.39 and a debt-to-equity ratio of 17.00. The stock has a 50 day moving average price of C$4.37 and a two-hundred day moving average price of C$4.54.

Coveo Solutions (TSE:CVO) last released its quarterly earnings results on Thursday, July 30th. The company reported C($0.09) earnings per share for the quarter. The firm 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%. On average, research analysts predict that Coveo Solutions Inc. will post -0.2144225 earnings per share 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.