Coveo Solutions (TSE:CVO) Stock Price Up 20% – Should You Buy?

Shares of Coveo Solutions Inc. (TSE:CVO) rose 20% on Wednesday . The company traded as high as C$7.49 and last traded at C$7.45. Approximately 358,860 shares changed hands during mid-day trading, an increase of 118% from the average daily volume of 164,874 shares. The stock had previously closed at C$6.21.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVO. Canaccord Genuity Group decreased their price objective on Coveo Solutions from C$13.00 to C$11.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Stifel Nicolaus lowered their price objective on shares of Coveo Solutions from C$15.00 to C$13.00 in a research note on Friday, October 31st. Finally, Natl Bk Canada downgraded Coveo Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$11.10.

Coveo Solutions Stock Performance

The firm has a 50 day moving average of C$6.57 and a two-hundred day moving average of C$7.72. The stock has a market cap of C$688.44 million, a P/E ratio of -31.22, a P/E/G ratio of 0.09 and a beta of 0.60. The company has a debt-to-equity ratio of 5.36, a quick ratio of 3.14 and a current ratio of 1.85.

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

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.