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

Coveo Solutions Inc. (TSE:CVO) shares 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CVO. Stifel Nicolaus cut their price target on shares of Coveo Solutions from C$15.00 to C$13.00 in a report on Friday, October 31st. Canaccord Genuity Group lowered their price target 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. Finally, Natl Bk Canada lowered 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$11.10.

Coveo Solutions Trading Up 15.6%

The firm has a 50-day moving average price of C$6.57 and a 200-day moving average price of C$7.72. 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 stock has a market capitalization of C$688.44 million, a PE ratio of -31.22, a price-to-earnings-growth ratio of 0.09 and a beta of 0.60.

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 company had revenue of C$51.99 million for the quarter. As a group, equities analysts forecast that Coveo Solutions Inc. will post -0.2144225 EPS for the current fiscal 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.