Docebo (NASDAQ:DCBO) Price Target Raised to $55.00

Docebo (NASDAQ:DCBO) had its target price hoisted by equities researchers at Scotiabank from $50.00 to $55.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 20.91% from the company’s previous close.

Several other analysts have also recently commented on DCBO. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Docebo in a research report on Thursday, September 12th. CIBC boosted their target price on Docebo from $44.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

Docebo Stock Performance

Shares of DCBO traded up $0.53 during midday trading on Thursday, hitting $45.49. 3,329 shares of the stock traded hands, compared to its average volume of 90,862. The business’s 50 day moving average price is $43.70 and its two-hundred day moving average price is $41.09. The firm has a market capitalization of $1.38 billion, a PE ratio of 206.77 and a beta of 1.55. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.11 and a current ratio of 1.11. Docebo has a 1-year low of $33.81 and a 1-year high of $56.41.

Docebo (NASDAQ:DCBO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). Docebo had a net margin of 8.56% and a return on equity of 29.82%. The firm had revenue of $53.05 million during the quarter, compared to the consensus estimate of $52.30 million. Equities research analysts predict that Docebo will post 0.79 EPS for the current fiscal year.

Institutional Trading of Docebo

A number of institutional investors and hedge funds have recently modified their holdings of DCBO. Long Path Partners LP raised its holdings in Docebo by 73.0% in the 2nd quarter. Long Path Partners LP now owns 686,277 shares of the company’s stock worth $26,511,000 after acquiring an additional 289,524 shares during the period. CIBC Asset Management Inc grew its holdings in Docebo by 36.9% in the 2nd quarter. CIBC Asset Management Inc now owns 446,544 shares of the company’s stock valued at $17,233,000 after buying an additional 120,396 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Docebo by 19.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 738,692 shares of the company’s stock worth $36,129,000 after buying an additional 119,434 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of Docebo by 75.2% during the first quarter. Quadrature Capital Ltd now owns 246,400 shares of the company’s stock worth $12,045,000 after buying an additional 105,800 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Docebo by 196.3% in the second quarter. Marshall Wace LLP now owns 142,507 shares of the company’s stock valued at $5,505,000 after acquiring an additional 94,414 shares during the period. 53.17% of the stock is currently owned by institutional investors and hedge funds.

About Docebo

Docebo Inc operates as a learning management software company that provides artificial intelligence (AI)-powered learning platform in North America and internationally. It offers Learning Management System (LMS) to train internal and external workforces, partners, and customers. The company's cloud platform consists of a learning suite, which includes Docebo Learn LMS, a cloud-based learning platform that allows learning administrators to deliver personalized learning; Docebo Shape, an AI-based learning content creation tool, which enables learning administrators to turn internal and external resources into engaging, multilingual, and microlearning content to share across the business; Docebo Content that allows off-the-shelf learning content by partnering content specialist; Docebo Learning Impact, a learning measurement tool that enables administrators to prove and improve training programs; Docebo Learn Data, which gives a comprehensive view on learning data to business results; Docebo Connect that connects Docebo to custom tech stack and making integrations; and Docebo Flow that allows businesses to directly inject learning into the flow of work.