Docebo (NASDAQ:DCBO) Given New $41.50 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised Docebo’s price target to $41.50 from $36 and maintained a Buy rating, implying roughly 33% upside from the stock’s cited price of $31.21.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $35.25, with one Strong Buy, nine Buy, and four Hold ratings.
• Docebo beat quarterly estimates, reporting EPS of $0.55 versus $0.53 expected and revenue of $70.33 million versus $68.47 million; shares rose 7.7% on Monday.

Docebo (NASDAQ:DCBO - Get Free Report) had its price target lifted by equities researchers at Canaccord Genuity Group from $36.00 to $41.50 in a report issued on Monday, BayStreet reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 32.97% from the stock's current price.

A number of other research analysts have also commented on the stock. Oppenheimer raised their price objective on shares of Docebo from $25.00 to $35.00 and gave the company an "outperform" rating in a research note on Monday, November 2nd. ATB Cormark Capital Markets cut their target price on Docebo from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Monday, July 20th. Needham & Company LLC increased their price target on Docebo from $31.00 to $42.00 and gave the company a "buy" rating in a research note on Friday. Zacks Research upgraded Docebo from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 19th. Finally, National Bank Financial lifted their price target on Docebo from $31.00 to $32.00 and gave the company a "sector perform" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.25.

Docebo Trading Up 7.7%

DCBO traded up $2.24 on Monday, reaching $31.21. The company had a trading volume of 59,244 shares, compared to its average volume of 130,248. The company has a market capitalization of $779.53 million, a P/E ratio of 24.01 and a beta of 1.18. The company has a fifty day moving average of $26.09 and a 200-day moving average of $20.68. Docebo has a one year low of $14.39 and a one year high of $31.94.

Docebo (NASDAQ:DCBO - Get Free Report) last released its quarterly earnings results on Friday, November 6th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. The company had revenue of $70.33 million for 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%. Research analysts predict that Docebo will post 1.45 EPS for the current year.

Hedge Funds Weigh In On Docebo

Several hedge funds have recently made changes to their positions in DCBO. Arrowstreet Capital Limited Partnership raised its holdings in shares of Docebo by 16.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 615,587 shares of the company's stock worth $10,775,000 after purchasing an additional 86,038 shares in the last quarter. NewGen Asset Management Ltd bought a new stake in Docebo during the first quarter worth approximately $1,558,000. Engineers Gate Manager LP boosted its holdings 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 buying an additional 12,400 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in 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. Finally, Sei Investments Co. grew its position in Docebo by 211.7% in the first quarter. Sei Investments Co. now owns 56,034 shares of the company's stock worth $979,000 after buying an additional 38,058 shares during the last quarter. Institutional investors and hedge funds own 53.17% of the company's stock.

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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