Docebo (NASDAQ:DCBO) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Docebo from “hold” to “buy,” while broader analyst sentiment remains “Moderate Buy” with an average price target of $31.08.
• Docebo shares opened at $22.30, up 8.9%, with a market capitalization of approximately $555 million and a 52-week range of $14.39 to $33.42.
• Institutional investors increased their holdings, and hedge funds and institutions now own approximately 53.17% of Docebo’s outstanding shares.

Docebo (NASDAQ:DCBO - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

A number of other equities research analysts have also commented on DCBO. Weiss Ratings lowered shares of Docebo from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, July 23rd. ATB Cormark Capital Markets dropped their target price on Docebo from $36.00 to $35.00 and set an "outperform" rating on the stock in a research report on Monday, July 20th. Zacks Research cut Docebo from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $31.00 price target on shares of Docebo in a research report on Friday, July 17th. Finally, National Bank Financial raised their price target on shares of Docebo from $21.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Docebo has an average rating of "Moderate Buy" and an average price target of $31.08.

Docebo Stock Up 8.9%

NASDAQ:DCBO opened at $22.30 on Friday. Docebo has a 1 year low of $14.39 and a 1 year high of $33.42. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. The stock has a market cap of $555.05 million, a price-to-earnings ratio of 19.22 and a beta of 1.24. The stock has a 50-day moving average price of $18.72 and a two-hundred day moving average price of $18.39.

Institutional Trading of Docebo

A number of hedge funds and other institutional investors have recently modified their holdings of DCBO. Royal Bank of Canada raised its holdings in Docebo by 467.1% during the first quarter. Royal Bank of Canada now owns 158,340 shares of the company's stock worth $4,546,000 after acquiring an additional 130,419 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Docebo by 29.1% in the second quarter. JPMorgan Chase & Co. now owns 11,294 shares of the company's stock valued at $327,000 after purchasing an additional 2,546 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Docebo by 3.8% during the 2nd quarter. CIBC Asset Management Inc now owns 445,517 shares of the company's stock worth $12,915,000 after purchasing an additional 16,432 shares during the last quarter. Bank of America Corp DE increased its position in shares of Docebo by 68.5% during the 2nd quarter. Bank of America Corp DE now owns 119,508 shares of the company's stock worth $3,459,000 after purchasing an additional 48,588 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Docebo by 55.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 14,034 shares of the company's stock worth $406,000 after purchasing an additional 5,029 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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