Coveo Solutions (TSE:CVO) Stock Price Down 1.4% on Analyst Downgrade

Coveo Solutions Inc. (TSE:CVO)’s share price traded down 1.4% on Wednesday after TD Securities lowered their price target on the stock from C$11.00 to C$10.00. TD Securities currently has a buy rating on the stock. Coveo Solutions traded as low as C$6.68 and last traded at C$6.90. 837,286 shares were traded during mid-day trading, an increase of 540% from the average session volume of 130,731 shares. The stock had previously closed at C$7.00.

Other research analysts have also recently issued research reports about the company. Canaccord Genuity Group boosted their price objective on Coveo Solutions from C$11.00 to C$12.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus boosted their price objective on Coveo Solutions from C$11.00 to C$13.00 and gave the company a “buy” rating in a report on Wednesday. National Bankshares lowered their price objective on Coveo Solutions from C$8.50 to C$7.50 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Royal Bank of Canada increased their price target on Coveo Solutions from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Coveo Solutions currently has a consensus rating of “Buy” and an average price target of C$11.00.

Coveo Solutions Stock Performance

The firm’s 50 day simple moving average is C$5.90 and its 200-day simple moving average is C$6.36. The company has a debt-to-equity ratio of 5.36, a quick ratio of 3.14 and a current ratio of 1.85. The company has a market capitalization of C$463.63 million, a price-to-earnings ratio of -42.56, a P/E/G ratio of 0.09 and a beta of 0.75.

About Coveo Solutions

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.