BMO Capital Markets Forecasts Strong Price Appreciation for Coveo Solutions (TSE:CVO) Stock

Coveo Solutions (TSE:CVO) had its price objective upped by equities research analysts at BMO Capital Markets from C$6.00 to C$6.50 in a note issued to investors on Friday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets‘s price objective would indicate a potential upside of 35.98% from the stock’s previous close.

Several other analysts have also weighed in on CVO. Scotia set a C$5.00 price target on Coveo Solutions and gave the company a “sector perform” rating in a report on Tuesday, October 6th. TD increased their target price on shares of Coveo Solutions from C$7.00 to C$7.50 and gave the company a “buy” rating in a research note on Friday. Finally, Scotiabank raised shares of Coveo Solutions to a “hold” rating in a research note on Tuesday, October 6th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Coveo Solutions currently has an average rating of “Moderate Buy” and an average target price of C$7.71.

Coveo Solutions Trading Up 0.2%

TSE CVO traded up C$0.01 during trading hours on Friday, hitting C$4.78. 212,444 shares of the company were exchanged, compared to its average volume of 218,654. The stock has a 50-day moving average price of C$4.42 and a 200 day moving average price of C$4.74. The company has a quick ratio of 3.14, a current ratio of 1.39 and a debt-to-equity ratio of 17.00. Coveo Solutions has a 52 week low of C$3.59 and a 52 week high of C$7.52. The stock has a market cap of C$444.24 million, a PE ratio of -23.90, a price-to-earnings-growth ratio of 0.09 and a beta of 1.40.

Coveo Solutions (TSE:CVO) last posted its quarterly earnings data on Thursday, October 29th. The company reported C($0.04) earnings per share (EPS) for the quarter. The company had revenue of C$57.57 million during the quarter. Coveo Solutions had a negative net margin of 12.74% and a negative return on equity of 19.77%. Analysts forecast that Coveo Solutions will post -0.21 earnings per share for the current fiscal year.

About Coveo Solutions

Coveo brings superior AI-Relevance to every point-of-experience, transforming how enterprises connect with their customers and employees to maximize business outcomes. Relevance is about moving from persona to person, the degree to which the enterprise-wide content, products, recommendations, and advice presented to a person online aligns easily with their context, needs, preferences, behavior and intent, setting the competitive experience gold standard. Every person’s journey is unique, and only AI can solve the complexity of tailoring experiences across massive, diverse audiences and large volumes and variety of content and products.