Docebo (NASDAQ:DCBO) Shares Gap Up - Still a Buy?

Key Points

• Docebo Inc. (NASDAQ:DCBO) shares gapped up to $32.50 from a previous close of $29.08, indicating a potential shift in investor interest and market sentiment.
• Multiple analysts have issued varying ratings and price targets for Docebo, with a consensus rating of "Moderate Buy" and an average price target of $44.13, despite some downgrades from firms like Morgan Stanley.
• Institutional investors hold over 53% of Docebo's stock, with several hedge funds increasing their stakes, reflecting confidence in the company's growth outlook.

Docebo Inc. (NASDAQ:DCBO - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $29.08, but opened at $32.50. Docebo shares last traded at $32.31, with a volume of 47,683 shares.

Analyst Ratings Changes

DCBO has been the subject of a number of recent analyst reports. National Bankshares cut their price objective on Docebo from $55.00 to $45.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Cantor Fitzgerald started coverage on Docebo in a report on Monday, June 9th. They issued an "overweight" rating and a $35.00 target price for the company. Scotiabank decreased their price target on Docebo from $45.00 to $40.00 and set a "sector outperform" rating on the stock in a research note on Monday, May 12th. Morgan Stanley lowered Docebo from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $41.00 to $32.00 in a research note on Monday, May 12th. Finally, National Bank Financial lowered Docebo from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 9th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $44.13.

Docebo Stock Up 1.6%

The company has a 50-day moving average price of $28.87 and a 200 day moving average price of $31.19. The firm has a market cap of $911.52 million, a price-to-earnings ratio of 45.87 and a beta of 1.48.

Hedge Funds Weigh In On Docebo

Several institutional investors have recently bought and sold shares of DCBO. JPMorgan Chase & Co. raised its holdings in Docebo by 60.7% during the fourth quarter. JPMorgan Chase & Co. now owns 42,023 shares of the company's stock valued at $1,881,000 after buying an additional 15,873 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Docebo by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 40,903 shares of the company's stock worth $1,832,000 after purchasing an additional 360 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Docebo by 102.1% in the fourth quarter. Russell Investments Group Ltd. now owns 28,689 shares of the company's stock worth $1,285,000 after purchasing an additional 14,496 shares during the period. Advisory Services Network LLC increased its stake in shares of Docebo by 10.5% in the fourth quarter. Advisory Services Network LLC now owns 16,065 shares of the company's stock worth $720,000 after purchasing an additional 1,526 shares during the period. Finally, Jump Financial LLC increased its stake in shares of Docebo by 33.3% in the fourth quarter. Jump Financial LLC now owns 8,320 shares of the company's stock worth $372,000 after purchasing an additional 2,080 shares during the period. 53.17% of the stock is currently owned by institutional investors.

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.