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

Key Points

• Stifel Nicolaus raised its Docebo price target from $28 to $36 and maintained a Buy rating, implying about 15.3% upside from the stock’s current price.
• Analyst sentiment is broadly positive: Docebo has a “Moderate Buy” consensus rating and an average price target of $35.25; Canaccord Genuity and Needham set targets of $41.50 and $42, respectively.
• Docebo beat quarterly estimates, reporting EPS of $0.55 versus $0.53 expected and revenue of $70.33 million versus $68.47 million expected.

Docebo (NASDAQ:DCBO - Get Free Report) had its price target boosted by equities researchers at Stifel Nicolaus from $28.00 to $36.00 in a note issued to investors on Monday, BayStreet reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus's target price indicates a potential upside of 15.34% from the stock's current price.

Other equities research analysts have also issued reports about the company. Wall Street Zen upgraded Docebo from a "hold" rating to a "buy" rating in a research report on Saturday. Zacks Research raised Docebo from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 19th. National Bank Financial lifted their price objective on Docebo from $31.00 to $32.00 and gave the stock a "sector perform" rating in a research report on Monday. Canaccord Genuity Group boosted their price objective on Docebo from $36.00 to $41.50 and gave the stock a "buy" rating in a research note on Monday. Finally, Needham & Company LLC upped their target price on Docebo from $31.00 to $42.00 and gave the company a "buy" rating in a report on Friday. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $35.25.

Docebo Price Performance

DCBO traded up $2.24 on Monday, reaching $31.21. 59,244 shares of the company's stock were exchanged, compared to its average volume of 130,248. The stock has a market cap of $779.53 million, a PE ratio of 24.01 and a beta of 1.18. Docebo has a twelve month low of $14.39 and a twelve month high of $31.94. The stock's fifty day moving average price is $26.09 and its 200-day moving average price is $20.68.

Docebo (NASDAQ:DCBO - Get Free Report) last announced its quarterly earnings data on Friday, November 6th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $70.33 million during the quarter, compared to analysts' expectations of $68.47 million. Docebo had a net margin of 13.79% and a return on equity of 161.21%. As a group, research analysts predict that Docebo will post 1.45 earnings per share for the current fiscal year.

Institutional Trading of Docebo

Hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of 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 buying an additional 86,038 shares during the last quarter. NewGen Asset Management Ltd purchased a new stake in shares of Docebo during the 1st quarter valued at approximately $1,558,000. Sei Investments Co. lifted its holdings in Docebo by 211.7% in the first 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 last quarter. TD Waterhouse Canada Inc. lifted its holdings in Docebo by 4.4% in the third 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 last quarter. Finally, Engineers Gate Manager LP lifted its holdings in Docebo by 25.4% in the second quarter. Engineers Gate Manager LP now owns 61,170 shares of the company's stock valued at $1,094,000 after acquiring an additional 12,400 shares during the last quarter. Hedge funds and other institutional investors own 53.17% of the company's stock.

Docebo Company Profile

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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