Coveo Solutions (TSE:CVO) Shares Up 5% – Here’s Why

Coveo Solutions Inc. (TSE:CVO) shares shot up 5% during trading on Monday . The stock traded as high as C$4.84 and last traded at C$4.80. 99,455 shares traded hands during trading, a decline of 54% from the average session volume of 214,227 shares. The stock had previously closed at C$4.57.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVO. National Bank Financial lowered their target price on Coveo Solutions from C$9.00 to C$7.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. TD Securities decreased their price target on Coveo Solutions from C$12.00 to C$9.50 and set a “buy” rating for the company in a report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$10.50.

Coveo Solutions Price Performance

The company has a market capitalization of C$457.45 million, a PE ratio of -13.89, a P/E/G ratio of 0.09 and a beta of 1.33. The company has a current ratio of 1.47, a quick ratio of 3.14 and a debt-to-equity ratio of 16.61. The stock has a fifty day simple moving average of C$4.43 and a 200-day simple moving average of C$5.53.

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.