Morgan Stanley Cuts Docebo (NASDAQ:DCBO) Price Target to $41.00

Docebo (NASDAQ:DCBO) had its target price cut by investment analysts at Morgan Stanley from $43.00 to $41.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 38.37% from the company’s previous close.

Several other research firms have also issued reports on DCBO. Needham & Company LLC reissued a “buy” rating and set a $42.00 target price on shares of Docebo in a report on Thursday, April 10th. Scotiabank dropped their price objective on shares of Docebo from $55.00 to $45.00 and set a “sector outperform” rating for the company in a report on Tuesday, March 4th. UBS Group set a $45.00 price objective on Docebo in a research report on Tuesday, March 4th. Finally, Atb Cap Markets raised shares of Docebo from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $51.36.

Docebo Stock Performance

Shares of NASDAQ DCBO traded up $0.23 during midday trading on Wednesday, hitting $29.63. 13,246 shares of the company’s stock were exchanged, compared to its average volume of 85,042. Docebo has a 12 month low of $26.00 and a 12 month high of $53.86. The firm has a market capitalization of $897.02 million, a PE ratio of 51.09 and a beta of 1.59. The company’s 50 day moving average price is $33.17 and its 200 day moving average price is $41.51. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Docebo

Several institutional investors and hedge funds have recently added to or reduced their stakes in DCBO. Mackenzie Financial Corp raised its stake in shares of Docebo by 4,534.3% in the fourth quarter. Mackenzie Financial Corp now owns 322,454 shares of the company’s stock worth $14,444,000 after buying an additional 315,496 shares during the period. Public Employees Retirement System of Ohio raised its stake in Docebo by 21.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 25,363 shares of the company’s stock valued at $1,137,000 after purchasing an additional 4,506 shares in the last quarter. State of Wyoming bought a new position in shares of Docebo in the 4th quarter valued at about $275,000. Man Group plc purchased a new position in shares of Docebo in the 4th quarter worth approximately $1,768,000. Finally, Millennium Management LLC lifted its holdings in shares of Docebo by 128.2% in the 4th quarter. Millennium Management LLC now owns 78,616 shares of the company’s stock worth $3,521,000 after acquiring an additional 44,162 shares during the last quarter. Hedge funds and other institutional investors own 53.17% of the company’s stock.

Docebo Company Profile

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.