Coveo Solutions (TSE:CVO) Shares Down 1.6% – Should You Sell?

Coveo Solutions Inc. (TSE:CVO) shares were down 1.6% during trading on Tuesday . The stock traded as low as C$5.35 and last traded at C$5.53. Approximately 383,965 shares traded hands during mid-day trading, an increase of 136% from the average daily volume of 162,895 shares. The stock had previously closed at C$5.62.

Analyst Upgrades and Downgrades

CVO has been the subject of a number of research analyst reports. TD Securities upped their target price 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. Royal Bank Of Canada boosted their price target on Coveo Solutions from C$11.00 to C$12.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Canaccord Genuity Group reduced their price objective on Coveo Solutions from C$13.00 to C$11.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Finally, Stifel Nicolaus dropped their target price on Coveo Solutions from C$15.00 to C$13.00 in a research report on Friday, October 31st. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Coveo Solutions currently has an average rating of “Buy” and a consensus target price of C$11.10.

Coveo Solutions Trading Up 2.4%

The firm has a market cap of C$541.74 million, a price-to-earnings ratio of -24.57, a P/E/G ratio of 0.09 and a beta of 0.87. The company has a debt-to-equity ratio of 5.36, a current ratio of 1.85 and a quick ratio of 3.14. The business has a 50-day moving average of C$7.41 and a 200-day moving average of C$7.83.

Coveo Solutions (TSE:CVO) last posted its quarterly earnings results on Thursday, October 30th. The company reported C($0.05) earnings per share for the quarter. The company had revenue of C$51.99 million during the quarter. Coveo Solutions had a negative net margin of 8.74% and a negative return on equity of 7.97%. Research analysts anticipate that Coveo Solutions Inc. will post -0.2144225 EPS for the current year.

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.