Docebo Inc. (NASDAQ:DCBO) Short Interest Down 5.8% in October

Docebo Inc. (NASDAQ:DCBO) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 175,200 shares, a decline of 5.8% from the September 30th total of 186,000 shares. Based on an average daily volume of 65,000 shares, the short-interest ratio is currently 2.7 days. Approximately 1.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Docebo

Several large investors have recently modified their holdings of the company. Stanley Laman Group Ltd. bought a new stake in Docebo during the second quarter valued at $843,000. Lord Abbett & CO. LLC grew its stake in Docebo by 54.4% during the first quarter. Lord Abbett & CO. LLC now owns 149,590 shares of the company’s stock worth $7,327,000 after purchasing an additional 52,681 shares during the period. Bank of Montreal Can increased its holdings in Docebo by 23.1% in the second quarter. Bank of Montreal Can now owns 371,690 shares of the company’s stock worth $14,198,000 after purchasing an additional 69,787 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Docebo by 109.0% in the first quarter. Acadian Asset Management LLC now owns 53,497 shares of the company’s stock valued at $2,611,000 after buying an additional 27,897 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Docebo by 15.1% in the second quarter. Renaissance Technologies LLC now owns 118,800 shares of the company’s stock valued at $4,589,000 after buying an additional 15,600 shares during the period. 53.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DCBO shares. CIBC raised their target price on Docebo from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price (up previously from $45.00) on shares of Docebo in a research report on Thursday, September 12th. Finally, Scotiabank increased their target price on shares of Docebo from $50.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.00.

Docebo Stock Up 6.0 %

Shares of DCBO opened at $48.39 on Friday. The stock’s 50-day moving average price is $44.19 and its two-hundred day moving average price is $41.14. Docebo has a 12 month low of $33.81 and a 12 month high of $56.41. The company has a market capitalization of $1.46 billion, a PE ratio of 89.61 and a beta of 1.55. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.01.

Docebo (NASDAQ:DCBO) last announced its earnings results on Thursday, August 8th. The company reported $0.19 EPS 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 company had revenue of $53.05 million during the quarter, compared to the consensus estimate of $52.30 million. On average, analysts anticipate that Docebo will post 0.79 EPS for the current year.

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.