Docebo (NASDAQ:DCBO) Trading Down 1.5% - Time to Sell?

Key Points

• Docebo shares fell 1.5% on Wednesday, trading as low as $17.88 before closing at $18.48 on lighter-than-average volume.
• Analyst sentiment is mixed: Cantor Fitzgerald and Needham reiterated buy/overweight views, while Zacks and Wall Street Zen downgraded the stock to hold. The consensus rating remains Moderate Buy with an average price target of $30.67.
• The company has a $464.6 million market cap and relatively low debt, while institutional investors continue to hold a majority stake, with 53.17% of shares owned by institutions.

Shares of Docebo Inc. (NASDAQ:DCBO - Get Free Report) fell 1.5% during trading on Wednesday . The company traded as low as $17.88 and last traded at $18.48. 28,243 shares were traded during mid-day trading, a decline of 60% from the average session volume of 70,223 shares. The stock had previously closed at $18.76.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DCBO. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 target price on shares of Docebo in a report on Wednesday, April 22nd. Zacks Research downgraded Docebo from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Wall Street Zen lowered Docebo from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $31.00 price objective on shares of Docebo in a research note on Wednesday, April 22nd. Finally, Weiss Ratings cut Docebo from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.67.

Docebo Stock Down 1.5%

The company has a market capitalization of $464.59 million, a P/E ratio of 15.93 and a beta of 1.27. 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 50 day moving average price of $17.99 and a 200 day moving average price of $18.66.

Hedge Funds Weigh In On Docebo

Several large investors have recently bought and sold shares of DCBO. Arrowstreet Capital Limited Partnership boosted its stake in shares of Docebo by 16.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 615,587 shares of the company's stock valued at $10,775,000 after purchasing an additional 86,038 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Docebo by 3.8% in the second quarter. CIBC Asset Management Inc now owns 445,517 shares of the company's stock valued at $12,915,000 after buying an additional 16,432 shares during the period. Wellington Management Group LLP raised its holdings in Docebo by 1.2% in the 4th quarter. Wellington Management Group LLP now owns 437,595 shares of the company's stock valued at $9,715,000 after buying an additional 5,169 shares during the last quarter. Topline Capital Management LLC boosted its position in Docebo by 484.9% during the 3rd quarter. Topline Capital Management LLC now owns 323,219 shares of the company's stock worth $8,834,000 after buying an additional 267,962 shares during the period. Finally, FIL Ltd boosted its position in Docebo by 16.1% during the 4th quarter. FIL Ltd now owns 255,518 shares of the company's stock worth $5,676,000 after buying an additional 35,445 shares during the period. 53.17% of the stock is currently 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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