Docebo (NASDAQ:DCBO) Stock Price Target Raised at National Bank Financial

Key Points

• National Bank Financial raised Docebo’s price target to $32 from $31 while maintaining a “sector perform” rating, implying 2.53% upside from the current price.
• Analyst sentiment is broadly positive: Docebo has a “Moderate Buy” consensus rating and a $35.25 average price target. Recent target increases include Needham’s move to $42 and Oppenheimer’s move to $35.
• Docebo’s latest quarterly results beat estimates, with EPS of $0.55 versus $0.53 expected and revenue of $70.33 million versus $68.47 million expected; shares rose 7.7% in Monday trading.

Docebo (NASDAQ:DCBO - Get Free Report) had its target price lifted by stock analysts at National Bank Financial from $31.00 to $32.00 in a research note issued on Monday, BayStreet reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's target price would suggest a potential upside of 2.53% from the stock's current price.

Other research analysts also recently issued reports about the company. Wall Street Zen upgraded Docebo from a "hold" rating to a "buy" rating in a report on Saturday. Zacks Research upgraded Docebo from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 19th. Oppenheimer increased their price target on Docebo from $25.00 to $35.00 and gave the stock an "outperform" rating in a research report on Monday, November 2nd. Needham & Company LLC increased their price target on Docebo from $31.00 to $42.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Weiss Ratings upgraded 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, nine have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $35.25.

Docebo Trading Up 7.7%

Shares of NASDAQ DCBO traded up $2.24 during mid-day trading on Monday, reaching $31.21. The company had a trading volume of 59,244 shares, compared to its average volume of 130,248. The business's 50-day moving average is $26.09 and its 200-day moving average is $20.68. The stock has a market cap of $779.53 million, a price-to-earnings ratio of 24.00 and a beta of 1.18. Docebo has a 52 week low of $14.39 and a 52 week high of $31.94.

Docebo (NASDAQ:DCBO - Get Free Report) last announced its quarterly earnings data 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. Docebo had a net margin of 13.79% and a return on equity of 161.21%. The company had revenue of $70.33 million during the quarter, compared to analyst estimates of $68.47 million. As a group, equities research analysts forecast that Docebo will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On Docebo

A number of institutional investors have recently added to or reduced their stakes in the stock. NewGen Asset Management Ltd acquired a new stake in Docebo in the 1st quarter worth approximately $1,558,000. Arrowstreet Capital Limited Partnership grew its position in Docebo by 16.2% during 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 during the last quarter. Sei Investments Co. grew its position in Docebo by 211.7% during the 1st 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. K2 Principal Fund L.P. purchased a new stake in Docebo during the 2nd quarter worth approximately $303,000. Finally, Engineers Gate Manager LP increased its stake in 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 purchasing an additional 12,400 shares in the last quarter. Institutional investors 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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