Docebo (NASDAQ:DCBO) Stock Gets Price Target Increase from Scotiabank

Key Points

• Scotiabank raised its Docebo price target from $25 to $35 and maintained a “Sector Outperform” rating; the new target implies about 9% upside from the prior close.
• Analyst sentiment is broadly positive: Docebo has a consensus “Moderate Buy” rating and an average price target of $36.25, with several firms also lifting targets.
• Docebo beat quarterly expectations, reporting earnings of $0.55 per share versus $0.53 forecast and revenue of $70.33 million versus an estimated $68.47 million.

Docebo (NASDAQ:DCBO - Get Free Report) had its target price boosted by Scotiabank from $25.00 to $35.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price target would indicate a potential upside of 9.04% from the company's previous close.

DCBO has been the subject of a number of other reports. Needham & Company LLC lifted their target price on Docebo from $31.00 to $42.00 and gave the company a "buy" rating in a research note on Friday. Weiss Ratings upgraded Docebo from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Zacks Research raised Docebo from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 19th. Stifel Nicolaus upped their price objective on Docebo from $28.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Oppenheimer increased their target price on Docebo from $25.00 to $35.00 and gave the stock an "outperform" rating in a research report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Docebo presently has an average rating of "Moderate Buy" and a consensus target price of $36.25.

Docebo Stock Performance

Shares of Docebo stock traded up $0.92 during trading hours on Tuesday, reaching $32.10. The company's stock had a trading volume of 23,178 shares, compared to its average volume of 129,957. The company's 50 day simple moving average is $26.20 and its 200 day simple moving average is $20.75. Docebo has a one year low of $14.39 and a one year high of $32.00. The stock has a market cap of $801.81 million, a P/E ratio of 24.68 and a beta of 1.18.

Docebo (NASDAQ:DCBO - Get Free Report) last posted its quarterly earnings results on Friday, November 6th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $70.33 million during the quarter, compared to analyst estimates of $68.47 million. Docebo had a net margin of 12.98% and a return on equity of 120.29%. On average, sell-side analysts predict that Docebo will post 1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Docebo

Several large investors have recently made changes to their positions in DCBO. Arrowstreet Capital Limited Partnership raised its holdings in shares of Docebo by 16.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 615,587 shares of the company's stock valued at $10,775,000 after buying an additional 86,038 shares during the last quarter. NewGen Asset Management Ltd bought a new position in Docebo in the 1st quarter worth approximately $1,558,000. Engineers Gate Manager LP grew its holdings in Docebo by 25.4% in the 2nd 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. increased its position in Docebo by 4.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 44,535 shares of the company's stock valued at $981,000 after acquiring an additional 1,894 shares during the period. Finally, Sei Investments Co. increased its position in Docebo by 211.7% in the 1st quarter. Sei Investments Co. now owns 56,034 shares of the company's stock valued at $979,000 after acquiring an additional 38,058 shares during the period. Institutional investors and hedge funds own 53.17% of the company's stock.

Key Headlines Impacting Docebo

Here are the key news stories impacting Docebo this week:

• Positive Sentiment: Analysts raised price targets. Stifel Nicolaus raised its target to $36 and kept a Buy rating; Canaccord Genuity lifted its target to $41.50 and kept Buy; and ATB Cormark raised its target to $49 with an Outperform rating. A separate report said Docebo’s target was raised to $42. Stifel Nicolaus recommendations Canaccord Genuity recommendations ATB Cormark target report Docebo price target report
• Positive Sentiment: Technical momentum improved. Docebo moved above its 20-day moving average, a short-term bullish signal that may attract momentum-focused investors. Zacks article on Docebo’s moving average
• Neutral Sentiment: National Bank Financial made a smaller adjustment. It raised its target from $31 to $32 but maintained a Sector Perform rating, signaling a more measured view than the other recent analyst updates. National Bank Financial recommendations

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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