Coveo Solutions (TSE:CVO) Posts Quarterly Earnings Results

Coveo Solutions (TSE:CVO) announced its quarterly earnings data on Thursday. The company reported C($0.11) earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$52.18 million during the quarter. Coveo Solutions had a negative net margin of 8.74% and a negative return on equity of 7.97%.

Coveo Solutions Trading Down 9.9%

Coveo Solutions stock traded down C$0.68 during midday trading on Thursday, hitting C$6.16. 606,364 shares of the stock were exchanged, compared to its average volume of 217,726. 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’s 50-day simple moving average is C$6.48 and its 200 day simple moving average is C$7.59. Coveo Solutions has a fifty-two week low of C$4.92 and a fifty-two week high of C$9.53. The stock has a market capitalization of C$590.64 million, a price-to-earnings ratio of -26.78, a PEG ratio of 0.09 and a beta of 1.16.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group decreased their target price on shares of Coveo Solutions from C$13.00 to C$11.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Stifel Nicolaus cut their price objective on Coveo Solutions from C$15.00 to C$13.00 in a research note on Friday, October 31st. Finally, Natl Bk Canada cut Coveo Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$11.10.

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.