Coveo Solutions (TSE:CVO) Hits New 12-Month High on Analyst Upgrade

Coveo Solutions Inc. (TSE:CVO) shares reached a new 52-week high on Monday after BMO Capital Markets raised their price target on the stock from C$12.90 to C$13.50. BMO Capital Markets currently has an outperform rating on the stock. Coveo Solutions traded as high as C$11.21 and last traded at C$11.15, with a volume of 16554 shares. The stock had previously closed at C$11.21.

Other equities research analysts also recently issued reports about the company. Eight Capital upped their target price on Coveo Solutions from C$12.00 to C$13.50 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. National Bankshares increased their price objective on Coveo Solutions from C$11.00 to C$14.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. UBS Group cut their price objective on Coveo Solutions from C$10.00 to C$7.50 in a research report on Wednesday, May 31st. Stifel Nicolaus set a C$14.00 price objective on Coveo Solutions and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, Royal Bank of Canada increased their price objective on Coveo Solutions from C$11.00 to C$13.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Coveo Solutions presently has a consensus rating of “Buy” and an average target price of C$12.56.

Coveo Solutions Price Performance

The stock has a fifty day moving average price of C$10.29 and a 200-day moving average price of C$8.44. The company has a market cap of C$575.88 million and a PE ratio of -24.84. The company has a debt-to-equity ratio of 5.67, a current ratio of 2.15 and a quick ratio of 3.14.

Coveo Solutions (TSE:CVO) last released its earnings results on Tuesday, August 8th. The company reported C($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.06) by C($0.03). The business had revenue of C$41.01 million during the quarter, compared to analysts’ expectations of C$39.62 million. Coveo Solutions had a negative net margin of 29.44% and a negative return on equity of 15.93%. On average, equities analysts expect that Coveo Solutions Inc. will post -0.2144225 earnings per share for the current year.

Coveo Solutions Company Profile

Coveo Solutions Inc provides applied artificial intelligence (AI) solutions. Its cloud-native, multi-tenant software as a service (SaaS) platform is the intelligence layer that injects search, recommendations, and personalization solutions into digital experiences to provide connected relevance for various-use cases across commerce, service, website, and workplace applications.