Docebo (NASDAQ:DCBO) Shares Down 5.4% - Should You Sell?

Key Points

• Docebo shares fell 5.4% to about $21.81 in midday trading, while trading volume dropped 84% below the average daily level.
• Analyst views remain mixed, but the overall consensus is “Moderate Buy”, with an average price target of $31.23 versus the current price. Targets range from $24 to $31, while Zacks Research issued a “strong sell” downgrade.
• Institutional investors own 53.17% of Docebo, and several major funds recently increased their positions. The company has a $549.48 million market capitalization and provides cloud-based learning-management software for enterprise training.

Docebo Inc. (NASDAQ:DCBO - Get Free Report)'s share price fell 5.4% during mid-day trading on Wednesday . The company traded as low as $21.90 and last traded at $21.8060. 26,887 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 163,122 shares. The stock had previously closed at $23.06.

Analysts Set New Price Targets

Several brokerages recently commented on DCBO. Weiss Ratings cut shares of Docebo from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, July 23rd. Needham & Company LLC reissued a "buy" rating and issued a $31.00 price target on shares of Docebo in a report on Friday, July 17th. National Bank Financial boosted their price target on shares of Docebo from $22.00 to $24.00 and gave the company a "sector perform" rating in a research report on Monday. Wall Street Zen raised shares of Docebo from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Zacks Research downgraded Docebo from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Docebo currently has a consensus rating of "Moderate Buy" and an average price target of $31.23.

Docebo Stock Performance

The company's 50-day moving average is $18.87 and its two-hundred day moving average is $18.44. The company has a market capitalization of $549.48 million, a P/E ratio of 19.37 and a beta of 1.24. 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 Trading of Docebo

A number of hedge funds have recently made changes to their positions in DCBO. Royal Bank of Canada raised its position in Docebo by 467.1% during the first quarter. Royal Bank of Canada now owns 158,340 shares of the company's stock valued at $4,546,000 after purchasing an additional 130,419 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Docebo by 29.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,294 shares of the company's stock valued at $327,000 after buying an additional 2,546 shares in the last quarter. CIBC Asset Management Inc lifted its position in Docebo by 3.8% in the 2nd quarter. CIBC Asset Management Inc now owns 445,517 shares of the company's stock worth $12,915,000 after buying an additional 16,432 shares during the last quarter. Bank of America Corp DE boosted its stake in Docebo by 68.5% in the second quarter. Bank of America Corp DE now owns 119,508 shares of the company's stock worth $3,459,000 after buying an additional 48,588 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Docebo by 55.8% during the second quarter. Balyasny Asset Management L.P. now owns 14,034 shares of the company's stock worth $406,000 after acquiring an additional 5,029 shares in the last quarter. 53.17% of the stock is owned by 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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