Canaccord Genuity Group Trims Coveo Solutions (TSE:CVO) Target Price to C$11.00

Coveo Solutions (TSE:CVO) had its price target cut by investment analysts at Canaccord Genuity Group from C$12.00 to C$11.00 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 60.58% from the company’s current price.

CVO has been the topic of several other research reports. Royal Bank of Canada decreased their price objective on Coveo Solutions from C$15.00 to C$13.00 and set an “outperform” rating on the stock in a report on Wednesday, June 5th. Eight Capital decreased their target price on Coveo Solutions from C$16.00 to C$13.50 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Scotiabank cut their price objective on Coveo Solutions from C$14.00 to C$11.00 and set an “outperform” rating for the company in a research report on Tuesday, June 4th. BMO Capital Markets dropped their price target on Coveo Solutions from C$12.50 to C$10.50 and set an “outperform” rating for the company in a research report on Tuesday, June 4th. Finally, National Bankshares dropped their price target on Coveo Solutions from C$14.00 to C$10.00 and set an “outperform” rating for the company in a research report on Tuesday, June 4th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$11.63.

Coveo Solutions Trading Up 3.8 %

TSE:CVO traded up C$0.25 on Monday, reaching C$6.85. 223,221 shares of the stock traded hands, compared to its average volume of 125,064. The firm has a market capitalization of C$365.24 million, a price-to-earnings ratio of -19.28, a price-to-earnings-growth ratio of 0.09 and a beta of 1.03. The company’s 50 day moving average is C$7.84 and its 200-day moving average is C$9.14. The company has a current ratio of 2.44, a quick ratio of 3.14 and a debt-to-equity ratio of 5.37. Coveo Solutions has a 1-year low of C$6.41 and a 1-year high of C$12.48.

Coveo Solutions (TSE:CVO) last announced its quarterly earnings results on Monday, June 3rd. The company reported C($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.02) by C($0.03). The firm had revenue of C$41.44 million during the quarter, compared to the consensus estimate of C$44.79 million. Coveo Solutions had a negative return on equity of 13.31% and a negative net margin of 21.85%. Equities research analysts anticipate that Coveo Solutions will post -0.2144225 EPS for the current fiscal 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.