Docebo (NASDAQ:DCBO) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Docebo from “Buy” to “Hold,” though analysts overall maintain a “Moderate Buy” consensus with a $30.18 target price.
• Docebo shares opened at $27.59, down 1.9%, after trading between $14.39 and $28.89 over the past year. The company’s latest quarterly EPS of $0.35 exceeded estimates, while revenue of $63.8 million fell short of expectations.
• Institutional investors and hedge funds own approximately 53.17% of Docebo’s stock, with several investors recently increasing positions or initiating new stakes.

Docebo (NASDAQ:DCBO - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages also recently commented on DCBO. ATB Cormark Capital Markets cut their price objective on shares of Docebo from $36.00 to $35.00 and set an "outperform" rating on the stock in a research report on Monday, July 20th. Weiss Ratings raised shares of Docebo from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. National Bank Financial upped their target price on shares of Docebo from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research note on Monday, August 10th. Needham & Company LLC reiterated a "buy" rating and set a $31.00 price target on shares of Docebo in a report on Friday, July 17th. Finally, Zacks Research raised shares of Docebo from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $30.18.

Docebo Trading Down 1.9%

Shares of NASDAQ DCBO opened at $27.59 on Friday. Docebo has a 12 month low of $14.39 and a 12 month high of $28.89. The firm has a market capitalization of $691.13 million, a PE ratio of 24.20 and a beta of 1.22. The firm has a fifty day simple moving average of $24.22 and a two-hundred day simple moving average of $20.32.

Docebo (NASDAQ:DCBO - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. Docebo had a net margin of 12.98% and a return on equity of 120.29%. The firm had revenue of $63.80 million during the quarter, compared to analysts' expectations of $67.14 million. On average, sell-side analysts predict that Docebo will post 1.44 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DCBO. TD Waterhouse Canada Inc. boosted its holdings in shares of Docebo by 4.4% in the third quarter. TD Waterhouse Canada Inc. now owns 44,535 shares of the company's stock worth $981,000 after buying an additional 1,894 shares during the last quarter. Engineers Gate Manager LP lifted its position in shares of Docebo by 25.4% during the 2nd quarter. Engineers Gate Manager LP now owns 61,170 shares of the company's stock valued at $1,094,000 after buying an additional 12,400 shares in the last quarter. Allworth Financial LP bought a new position in shares of Docebo during the 2nd quarter valued at approximately $52,000. K2 Principal Fund L.P. purchased a new stake in Docebo in the 2nd quarter worth approximately $303,000. Finally, State of Wyoming purchased a new stake in Docebo in the 2nd quarter worth approximately $137,000. 53.17% of the stock is owned by hedge funds and other institutional investors.

Docebo Company Profile

Docebo Inc develops cloud-based learning management software for businesses and other organizations. Its platform is designed to help companies create, manage and deliver employee, customer, partner and member education through online learning programs.

The Docebo Learning Platform includes tools for course administration, content creation and management, assessments, reporting, automation and artificial intelligence. It also supports extended-enterprise learning, enabling organizations to provide training to audiences outside their workforce.

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