Docebo (NASDAQ:DCBO) Price Target Raised to $31.00

Key Points

• National Bank Financial raised Docebo’s price target from $24 to $31 while maintaining a “sector perform” rating, implying roughly 1.06% upside from the prior close.
• Analyst sentiment is generally positive: Docebo has an overall “Moderate Buy” rating and an average price target of $30.82, based on one Strong Buy, ten Buy, and four Hold ratings.
• Docebo shares recently traded at $30.68, near their 12-month high of $30.89. The company exceeded quarterly EPS expectations, reporting $0.35 versus the $0.27 consensus estimate, though revenue came in below expectations.

Docebo (NASDAQ:DCBO - Get Free Report) had its price target raised by equities researchers at National Bank Financial from $24.00 to $31.00 in a note issued to investors on Wednesday, BayStreet reports. The firm currently has a "sector perform" rating on the stock. National Bank Financial's price objective suggests a potential upside of 1.06% from the stock's previous close.

A number of other research analysts have also issued reports on the company. Wall Street Zen lowered Docebo from a "buy" rating to a "hold" rating in a research report on Saturday. Needham & Company LLC reissued a "buy" rating and issued a $31.00 price target on shares of Docebo in a research note on Friday, July 17th. ATB Cormark Capital Markets lowered their price target on Docebo from $36.00 to $35.00 and set an "outperform" rating on the stock in a report on Monday, July 20th. Zacks Research upgraded shares of Docebo from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings upgraded shares of Docebo from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $30.82.

Docebo Stock Performance

Shares of DCBO traded up $0.47 during mid-day trading on Wednesday, reaching $30.68. 38,204 shares of the company's stock traded hands, compared to its average volume of 134,867. The business's 50-day moving average price is $24.46 and its 200-day moving average price is $20.51. The stock has a market capitalization of $768.29 million, a P/E ratio of 26.93 and a beta of 1.22. Docebo has a 12 month low of $14.39 and a 12 month high of $30.89.

Docebo (NASDAQ:DCBO - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. Docebo had a return on equity of 120.29% and a net margin of 12.98%. The business had revenue of $63.80 million during the quarter, compared to the consensus estimate of $67.14 million. Equities research analysts anticipate that Docebo will post 1.44 EPS for the current year.

Institutional Investors Weigh In On Docebo

Hedge funds and other institutional investors have recently bought and sold shares of the business. 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 acquired a new stake in Docebo during the first quarter valued at 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. boosted its holdings 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 buying an additional 1,894 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings 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 buying an additional 38,058 shares in the last quarter. 53.17% of the stock is currently owned by 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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