Oppenheimer Forecasts Strong Price Appreciation for Docebo (NASDAQ:DCBO) Stock

Key Points

• Oppenheimer raised Docebo’s price target from $25 to $35 and maintained an “outperform” rating, implying approximately 16.9% upside from the reported share price.
• Analyst sentiment is generally positive: Docebo has an average “Moderate Buy” rating and a consensus target price of $31.30, based on one Strong Buy, nine Buys and four Holds.
• Docebo reported quarterly EPS of $0.35, exceeding the $0.27 consensus estimate, although revenue of $63.8 million came in below the $67.14 million forecast; institutional investors own 53.17% of the stock.

Docebo (NASDAQ:DCBO - Get Free Report) had its target price raised by stock analysts at Oppenheimer from $25.00 to $35.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Oppenheimer's price objective would suggest a potential upside of 16.86% from the company's current price.

A number of other brokerages have also issued reports on DCBO. National Bank Financial upped their target price on shares of Docebo from $24.00 to $31.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 21st. Zacks Research raised shares of Docebo from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 19th. ATB Cormark Capital Markets dropped their target price on shares of Docebo from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Monday, July 20th. Weiss Ratings raised Docebo from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Finally, Wall Street Zen lowered Docebo from a "buy" rating to a "hold" rating in a research report on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.30.

Docebo Stock Performance

Shares of DCBO traded up $0.28 during trading hours on Monday, hitting $29.95. 5,465 shares of the company were exchanged, compared to its average volume of 131,379. The company has a market cap of $750.25 million, a PE ratio of 26.32 and a beta of 1.18. The firm's 50 day moving average is $25.57 and its 200-day moving average is $20.43. Docebo has a 52 week low of $14.39 and a 52 week high of $31.27.

Docebo (NASDAQ:DCBO - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The business had revenue of $63.80 million during the quarter, compared to analyst estimates of $67.14 million. Docebo had a net margin of 12.98% and a return on equity of 120.29%. As a group, equities analysts forecast that Docebo will post 1.45 earnings per share for the current fiscal year.

Institutional Trading of Docebo

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership increased its position in Docebo by 16.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 615,587 shares of the company's stock worth $10,775,000 after buying an additional 86,038 shares during the last quarter. NewGen Asset Management Ltd acquired a new stake in shares of Docebo during the 1st quarter worth about $1,558,000. Engineers Gate Manager LP lifted its stake 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 worth $1,094,000 after buying an additional 12,400 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Docebo by 4.4% during the 3rd 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 period. Finally, Sei Investments Co. boosted its holdings in shares of 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 buying an additional 38,058 shares during the period. 53.17% of the stock is currently owned by institutional investors and hedge funds.

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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