ATB Cormark Capital Markets Issues Positive Forecast for Docebo (NASDAQ:DCBO) Stock Price

Key Points

• ATB Cormark raised its Docebo price target to $49 from $44 and maintained an “outperform” rating, implying 57% upside from the prior close.
• Analyst sentiment is broadly positive: Docebo has a “Moderate Buy” consensus rating and an average price target of $35.25, with one Strong Buy, nine Buy, and four Hold ratings.
• Docebo beat quarterly estimates, reporting $0.55 earnings per share versus $0.53 expected and $70.33 million in revenue versus $68.47 million expected.

Docebo (NASDAQ:DCBO - Get Free Report) had its price objective upped by stock analysts at ATB Cormark Capital Markets from $44.00 to $49.00 in a note issued to investors on Monday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. ATB Cormark Capital Markets's price objective suggests a potential upside of 57.00% from the company's previous close.

A number of other research firms also recently issued reports on DCBO. Zacks Research raised Docebo from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 19th. Canaccord Genuity Group lifted their price target on Docebo from $36.00 to $41.50 and gave the company a "buy" rating in a research report on Monday. National Bank Financial upped their target price on shares of Docebo from $31.00 to $32.00 and gave the stock a "sector perform" rating in a report on Monday. Weiss Ratings raised Docebo from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Finally, Needham & Company LLC lifted their price target on Docebo from $31.00 to $42.00 and gave the company a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.25.

Docebo Stock Performance

DCBO stock traded up $2.24 during mid-day trading on Monday, hitting $31.21. The company had a trading volume of 59,244 shares, compared to its average volume of 130,248. The firm has a market cap of $779.53 million, a PE ratio of 24.01 and a beta of 1.18. Docebo has a 12 month low of $14.39 and a 12 month high of $31.94. The stock's fifty day moving average price is $26.09 and its two-hundred day moving average price is $20.68.

Docebo (NASDAQ:DCBO - Get Free Report) last released its earnings results on Friday, November 6th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. The firm had revenue of $70.33 million during the quarter, compared to the consensus estimate of $68.47 million. Docebo had a net margin of 13.79% and a return on equity of 161.21%. Equities analysts anticipate that Docebo will post 1.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DCBO. Arrowstreet Capital Limited Partnership increased its stake in Docebo by 16.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 615,587 shares of the company's stock valued at $10,775,000 after acquiring an additional 86,038 shares during the last quarter. NewGen Asset Management Ltd purchased a new stake in Docebo during the first quarter valued at about $1,558,000. Engineers Gate Manager LP lifted its stake in Docebo by 25.4% during the second quarter. Engineers Gate Manager LP now owns 61,170 shares of the company's stock worth $1,094,000 after purchasing an additional 12,400 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Docebo by 4.4% during the third quarter. TD Waterhouse Canada Inc. now owns 44,535 shares of the company's stock worth $981,000 after purchasing an additional 1,894 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Docebo by 211.7% during the first quarter. Sei Investments Co. now owns 56,034 shares of the company's stock worth $979,000 after purchasing an additional 38,058 shares during the last quarter. 53.17% of the stock is currently owned by hedge funds and other institutional investors.

About Docebo

Docebo Inc develops learning management and learning technology solutions for businesses and other organizations. Its cloud-based platform is designed to help companies create, manage, deliver and measure training for employees, customers, partners and other learners.

The Docebo Learning Platform includes tools for course administration, content delivery, artificial intelligence-supported learning, reporting and analytics, and integrations with other enterprise software. The company also offers capabilities for creating and managing learning content, supporting instructor-led and virtual training, and delivering extended-enterprise education programs.

Founded in 2005 by Claudio Erba, Docebo is headquartered in Toronto, Canada, and serves organizations internationally.

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