Docebo (NASDAQ:DCBO) Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Docebo from a “hold” to a “strong sell,” even though other analysts remain more positive overall.
• Despite the downgrade, the stock has a Moderate Buy consensus rating, with a consensus price target of $31.08 versus a Tuesday opening price of $19.54.
• Docebo’s shares were up 0.9% on the day, and the company currently has a market cap of about $491 million with hedge funds owning 53.17% of the stock.

Docebo (NASDAQ:DCBO - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Tuesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on DCBO. Needham & Company LLC reaffirmed a "buy" rating and set a $31.00 price objective on shares of Docebo in a report on Friday, July 17th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $28.00 target price on shares of Docebo in a report on Wednesday, April 22nd. National Bank Financial raised their price target on shares of Docebo from $21.00 to $22.00 and gave the company a "sector perform" rating in a research report on Monday. ATB Cormark Capital Markets cut their price target on shares of Docebo from $36.00 to $35.00 and set an "outperform" rating on the stock in a report on Monday. Finally, Weiss Ratings raised shares of Docebo from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Docebo presently has an average rating of "Moderate Buy" and a consensus target price of $31.08.

Docebo Stock Up 0.9%

DCBO stock opened at $19.54 on Tuesday. The stock's 50 day moving average is $17.94 and its 200-day moving average is $18.43. Docebo has a twelve month low of $14.39 and a twelve month high of $33.42. The firm has a market capitalization of $491.24 million, a PE ratio of 16.84 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On Docebo

Several large investors have recently made changes to their positions in DCBO. Northwest & Ethical Investments L.P. purchased a new position in shares of Docebo in the 4th quarter worth about $27,000. NewEdge Advisors LLC raised its position in Docebo by 1,101.5% in the first quarter. NewEdge Advisors LLC now owns 3,977 shares of the company's stock worth $69,000 after acquiring an additional 3,646 shares during the period. State of Wyoming bought a new stake in Docebo in the fourth quarter worth about $72,000. Deutsche Bank AG raised its position in Docebo by 33.2% in the fourth quarter. Deutsche Bank AG now owns 3,533 shares of the company's stock worth $78,000 after acquiring an additional 881 shares during the period. Finally, DGS Capital Management LLC purchased a new position in Docebo in the first quarter valued at about $178,000. 53.17% of the stock is owned by hedge funds and other institutional investors.

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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