Docebo (NASDAQ:DCBO) Shares Gap Up - Time to 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) shares 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 traded.

Wall Street Analysts Forecast Growth

DCBO has been the topic of a number of research reports. Morgan Stanley lowered shares of Docebo from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $41.00 to $32.00 in a research note on Monday, May 12th. Needham & Company LLC reiterated a "buy" rating and set a $42.00 price target on shares of Docebo in a research report on Thursday, April 10th. Scotiabank decreased their price objective on Docebo from $45.00 to $40.00 and set a "sector outperform" rating on the stock in a report on Monday, May 12th. Cantor Fitzgerald began coverage on shares of Docebo in a report on Monday, June 9th. They set an "overweight" rating and a $35.00 target price for the company. Finally, Atb Cap Markets downgraded shares of Docebo from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 11th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $44.13.

Docebo Stock Up 5.8%

The company's 50-day moving average is $28.71 and its 200-day moving average is $31.51. The stock has a market capitalization of $886.03 million, a price-to-earnings ratio of 41.32 and a beta of 1.48.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its position in Docebo by 46.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,983 shares of the company's stock valued at $134,000 after purchasing an additional 949 shares during the period. Deutsche Bank AG purchased a new stake in Docebo in the 4th quarter valued at about $242,000. Dynamic Technology Lab Private Ltd purchased a new stake in Docebo in the 4th quarter valued at about $255,000. State of Wyoming purchased a new position in Docebo during the fourth quarter worth about $275,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Docebo during the fourth quarter valued at about $327,000. 53.17% of the stock is currently owned by hedge funds and other institutional investors.

About Docebo

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.

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