Coveo Solutions (TSE:CVO) Shares Up 20% – What’s Next?

Coveo Solutions Inc. (TSE:CVO) shares shot up 20% during trading on Wednesday . The stock traded as high as C$7.49 and last traded at C$7.45. 358,860 shares were traded during trading, an increase of 118% from the average session volume of 164,874 shares. The stock had previously closed at C$6.21.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Canaccord Genuity Group decreased their target price on Coveo Solutions from C$13.00 to C$11.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Stifel Nicolaus cut their price target 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 lowered shares of Coveo Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Five 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 presently has an average rating of “Moderate Buy” and an average price target of C$11.10.

Coveo Solutions Trading Up 1.4%

The company has a fifty day simple moving average of C$6.50 and a two-hundred day simple moving average of C$7.71. The company has a current ratio of 1.85, a quick ratio of 3.14 and a debt-to-equity ratio of 5.36. The company has a market cap of C$673.10 million, a PE ratio of -30.52, a P/E/G ratio of 0.09 and a beta of 0.60.

Coveo Solutions (TSE:CVO) last announced 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 company had revenue of C$51.99 million during the quarter. Analysts anticipate that Coveo Solutions Inc. will post -0.2144225 EPS for the current year.

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.