Coveo Solutions Inc. (TSE:CVO) Given Consensus Recommendation of “Buy” by Brokerages

Coveo Solutions Inc. (TSE:CVO) has earned an average recommendation of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$10.94.

Several brokerages have recently issued reports on CVO. BMO Capital Markets decreased their target price on Coveo Solutions from C$10.50 to C$10.00 in a research report on Thursday, August 8th. Royal Bank of Canada decreased their target price on Coveo Solutions from C$13.00 to C$11.00 in a research report on Thursday, August 8th. Canaccord Genuity Group decreased their target price on Coveo Solutions from C$12.00 to C$11.00 and set a “buy” rating for the company in a research report on Monday, July 15th. TD Securities decreased their target price on Coveo Solutions from C$12.00 to C$11.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Scotiabank cut their price target on Coveo Solutions from C$14.00 to C$11.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 4th.

Coveo Solutions Trading Up 3.4 %

Shares of CVO stock opened at C$6.16 on Friday. The stock has a market capitalization of C$331.59 million, a PE ratio of -20.53, a P/E/G ratio of 0.09 and a beta of 0.77. Coveo Solutions has a 1-year low of C$5.73 and a 1-year high of C$12.48. The business has a 50-day moving average of C$6.94 and a 200 day moving average of C$8.57. The company has a debt-to-equity ratio of 6.05, a current ratio of 1.71 and a quick ratio of 3.14.

Coveo Solutions (TSE:CVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported C($0.08) EPS for the quarter, missing analysts’ consensus estimates of C($0.04) by C($0.04). The business had revenue of C$44.08 million for the quarter, compared to the consensus estimate of C$43.87 million. Coveo Solutions had a negative net margin of 17.81% and a negative return on equity of 13.95%. As a group, sell-side analysts anticipate that Coveo Solutions will post -0.2144225 earnings per share for the current year.

Coveo Solutions Company Profile

Coveo Solutions Inc provides AI platforms that enable individualized, connected, and trusted digital experiences. The Relevance Cloud platform, an AI solution that integrates AI search, recommendations, GenAI answering, AI models, and analytics across various digital domains; and is designed for scale, security, and compliance and integrates into enterprise ecosystems as a cloud-native SaaS, multi-tenant, API-first, and headless platform.