ATB Cormark Capital Markets Lowers Docebo (NASDAQ:DCBO) Price Target to $35.00

Key Points

• ATB Cormark cut Docebo’s price target from $36 to $35 but kept an outperform rating, implying roughly 82.6% upside from the current share price.
• Docebo’s stock fell 6.0% to $19.16 on Monday, trading below both its 50-day and 200-day moving averages and well under its 52-week high of $33.42.
• Analyst sentiment remains mixed: the stock has a Moderate Buy consensus rating with an average price target of $31.08, while several firms recently lowered ratings or targets.

Docebo (NASDAQ:DCBO - Get Free Report) had its target price decreased by research analysts at ATB Cormark Capital Markets from $36.00 to $35.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price objective points to a potential upside of 82.62% from the stock's current price.

A number of other research analysts have also issued reports on DCBO. Zacks Research lowered Docebo from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. National Bank Financial reduced their price target on Docebo from $24.00 to $21.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 27th. Weiss Ratings upgraded Docebo from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, July 8th. Cantor Fitzgerald restated an "overweight" rating and set a $28.00 target price on shares of Docebo in a research note on Wednesday, April 22nd. Finally, Wall Street Zen lowered shares of Docebo from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $31.08.

Docebo Stock Down 6.0%

Docebo stock traded down $1.22 during mid-day trading on Monday, reaching $19.16. 98,661 shares of the company's stock were exchanged, compared to its average volume of 169,666. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.03. Docebo has a twelve month low of $14.39 and a twelve month high of $33.42. The company has a market cap of $481.81 million, a P/E ratio of 16.53 and a beta of 1.27. The company has a fifty day moving average of $17.84 and a 200-day moving average of $18.49.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. NewEdge Advisors LLC grew its position in shares of Docebo by 1,101.5% in the 1st quarter. NewEdge Advisors LLC now owns 3,977 shares of the company's stock valued at $69,000 after buying an additional 3,646 shares during the last quarter. Turtle Creek Asset Management Inc. lifted its position in Docebo by 38.6% in the first quarter. Turtle Creek Asset Management Inc. now owns 21,200 shares of the company's stock valued at $370,000 after acquiring an additional 5,900 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Docebo by 74.4% in the first quarter. Lazard Asset Management LLC now owns 28,458 shares of the company's stock valued at $498,000 after acquiring an additional 12,141 shares in the last quarter. Arrowstreet Capital Limited Partnership grew 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 worth $10,775,000 after purchasing an additional 86,038 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of 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 purchasing an additional 38,058 shares in the last quarter. Institutional investors and hedge funds own 53.17% of the company's stock.

About Docebo

Docebo is a cloud-based learning management system (LMS) provider that offers enterprise organizations a comprehensive platform for employee, customer and partner training. The company's software is designed to streamline learning and development with features such as AI-powered content recommendations, automated learning paths and social collaboration tools. Docebo's platform supports multiple languages and integrates with a variety of third-party applications, enabling businesses to deliver training at scale across different departments and regions.

Founded in 2005 and headquartered in Toronto, Canada, Docebo has expanded its footprint to serve customers in North America, Europe, the Middle East and the Asia Pacific region.

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