Short Interest in Docebo Inc. (NASDAQ:DCBO) Grows 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 recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 322,400 shares, an increase of 31.3% from the August 15th total of 245,600 shares. Currently, 2.5% of the company's stock are short sold. Based on an average daily volume of 81,900 shares, the short-interest ratio is presently 3.9 days. Based on an average daily volume of 81,900 shares, the short-interest ratio is presently 3.9 days. Currently, 2.5% of the company's stock are short sold.

Docebo Stock Performance

Shares of NASDAQ:DCBO traded down $0.62 during trading on Friday, hitting $30.00. The stock had a trading volume of 66,585 shares, compared to its average volume of 77,103. The stock has a market capitalization of $861.90 million, a price-to-earnings ratio of 43.48 and a beta of 1.48. Docebo has a 12-month low of $25.50 and a 12-month high of $53.86. The stock has a 50-day simple moving average of $30.67 and a two-hundred day simple moving average of $29.43. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.01.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DCBO. Zacks Research upgraded Docebo to a "hold" rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of Docebo from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Cantor Fitzgerald assumed coverage on shares of Docebo in a research note on Monday, June 9th. They set an "overweight" rating and a $35.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in shares of Docebo in the fourth quarter worth $621,000. BNP Paribas Financial Markets acquired a new position in Docebo during the fourth quarter valued at approximately $911,000. Bank of America Corp DE grew its stake in shares of Docebo by 32.1% in the fourth quarter. Bank of America Corp DE now owns 41,981 shares of the company's stock worth $1,879,000 after purchasing an additional 10,203 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Docebo in the 4th quarter worth about $242,000. Finally, Millennium Management LLC grew its position in shares of Docebo by 128.2% during the 4th quarter. Millennium Management LLC now owns 78,616 shares of the company's stock valued at $3,521,000 after acquiring an additional 44,162 shares during the period. Institutional investors and hedge funds own 53.17% of the company's stock.

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.