01:46 PM EDT, 06/04/2024 (MT Newswires) -- BMO remains Outperform on Coveo Solutions ( CVOSF ) but have reduced estimates following the company's fourth quarter results.

The quarter was in line on revenue and a beat on EBITDA, while FY 2025 revenue guidance was significantly below consensus on revenue as organizations are taking a cautious approach to operationalizing GenAI.

"While we'd hoped for better near-term growth, we believe CVO is competitively well-positioned (as evidenced by recent GenAI wins) and view the stock's valuation as attractive, particularly given its recent selloff."

Reiterate $10.50 target.

Price: 7.04, Change: -0.30, Percent Change: -4.09