Short Interest in Docebo Inc. (NASDAQ:DCBO) Rises By 31.3%

Key Points

• Docebo Inc. (NASDAQ:DCBO) experienced a significant increase in short interest of 31.3% in August, with a total of 322,400 shares short sold as of August 31st.
• Institutional investors hold 53.17% of Docebo's stock, with notable changes including JPMorgan raising its position by 29.1% during the second quarter.
• Analysts have generally recommended a Moderate Buy rating for Docebo, with an average target price of $43.00, reflecting positive market sentiment towards the stock.

Docebo Inc. (NASDAQ:DCBO - Get Free Report) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 322,400 shares, a growth of 31.3% from the August 15th total of 245,600 shares. Based on an average daily volume of 81,900 shares, the days-to-cover ratio is presently 3.9 days. Approximately 2.5% of the shares of the stock are sold short. Approximately 2.5% of the shares of the stock are sold short. Based on an average daily volume of 81,900 shares, the days-to-cover ratio is presently 3.9 days.

Docebo Trading Down 2.0%

Shares of NASDAQ:DCBO traded down $0.62 during trading on Friday, reaching $30.00. 66,585 shares of the company traded hands, compared to its average volume of 75,640. The firm has a market capitalization of $861.90 million, a price-to-earnings ratio of 32.61 and a beta of 1.48. Docebo has a 52-week low of $25.50 and a 52-week high of $53.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.01. The business's fifty day moving average is $30.67 and its 200-day moving average is $29.40.

Hedge Funds Weigh In On Docebo

Several institutional investors and hedge funds have recently modified their holdings of DCBO. Topline Capital Management LLC bought a new stake in Docebo during the 2nd quarter valued at approximately $1,599,000. Man Group plc boosted its stake in shares of Docebo by 118.8% in the second quarter. Man Group plc now owns 131,699 shares of the company's stock worth $3,810,000 after buying an additional 71,499 shares during the last quarter. Lazard Asset Management LLC boosted its position in Docebo by 15.8% during the second quarter. Lazard Asset Management LLC now owns 71,650 shares of the company's stock worth $2,073,000 after purchasing an additional 9,759 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Docebo by 10.9% in the second quarter. BNP Paribas Financial Markets now owns 26,560 shares of the company's stock valued at $769,000 after acquiring an additional 2,607 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Docebo by 55.8% in the second quarter. Balyasny Asset Management L.P. now owns 14,034 shares of the company's stock valued at $406,000 after purchasing an additional 5,029 shares during the last quarter. 53.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on DCBO. Zacks Research raised Docebo to a "hold" rating in a research note on Friday, August 8th. Cantor Fitzgerald began coverage on Docebo in a research note on Monday, June 9th. They issued an "overweight" rating and a $35.00 price objective for the company. Finally, Wall Street Zen raised Docebo from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Docebo presently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Docebo Company Profile

Docebo Inc operates as a learning management software company that provides artificial intelligence (AI)-powered learning platform in North America and internationally. It offers Learning Management System (LMS) to train internal and external workforces, partners, and customers. The company's cloud platform consists of a learning suite, which includes Docebo Learn LMS, a cloud-based learning platform that allows learning administrators to deliver personalized learning; Docebo Shape, an AI-based learning content creation tool, which enables learning administrators to turn internal and external resources into engaging, multilingual, and microlearning content to share across the business; Docebo Content that allows off-the-shelf learning content by partnering content specialist; Docebo Learning Impact, a learning measurement tool that enables administrators to prove and improve training programs; Docebo Learn Data, which gives a comprehensive view on learning data to business results; Docebo Connect that connects Docebo to custom tech stack and making integrations; and Docebo Flow that allows businesses to directly inject learning into the flow of work.