Coveo Solutions (TSE:CVO) Trading Down 25.2% Following Analyst Downgrade

Coveo Solutions Inc. (TSE:CVO)’s share price dropped 25.2% during trading on Friday after Stifel Nicolaus lowered their price target on the stock from C$15.00 to C$13.00. The company traded as low as C$5.58 and last traded at C$5.99. Approximately 468,790 shares were traded during mid-day trading, an increase of 235% from the average daily volume of 139,838 shares. The stock had previously closed at C$8.01.

A number of other equities analysts also recently commented on the stock. Canaccord Genuity Group lifted their price objective on shares of Coveo Solutions from C$12.00 to C$13.00 and gave the stock a “buy” rating in a report on Friday, August 1st. TD Securities raised their target price on Coveo Solutions from C$10.00 to C$12.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada raised their target price on Coveo Solutions from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$11.50.

Coveo Solutions Price Performance

The company has a market capitalization of C$575.30 million, a price-to-earnings ratio of -25.00, a price-to-earnings-growth ratio of 0.09 and a beta of 0.71. 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 fifty day moving average price of C$8.53 and a 200 day moving average price of C$7.85.

Coveo Solutions Company Profile

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.