Docebo's (DCBO) "Buy" Rating Reaffirmed at TD Cowen

Key Points

• Docebo's stock has been reaffirmed with a "buy" rating by TD Cowen, who set a target price of $37.00, suggesting a potential upside of 32.95% from its current price.
• The consensus rating for Docebo stock among analysts is currently "Moderate Buy," with a consensus price target of $41.67.
• Institutional investors hold a significant portion of Docebo, with 53.17% of shares owned by hedge funds and institutional investors reflecting their confidence in the company.

Docebo (NASDAQ:DCBO - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at TD Cowen in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $37.00 target price on the stock. TD Cowen's price objective indicates a potential upside of 32.95% from the stock's current price.

Other analysts also recently issued research reports about the company. Cantor Fitzgerald began coverage on Docebo in a report on Monday, June 9th. They issued an "overweight" rating and a $35.00 target price for the company. TD Securities began coverage on Docebo in a report on Friday. They issued a "buy" rating and a $37.00 target price for the company. Zacks Research upgraded Docebo to a "hold" rating in a report on Friday, August 8th. Finally, Wall Street Zen upgraded Docebo from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

Docebo Price Performance

NASDAQ:DCBO traded up $0.59 during trading hours on Friday, reaching $27.83. The stock had a trading volume of 6,945 shares, compared to its average volume of 86,350. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.04 and a current ratio of 1.04. Docebo has a 52 week low of $25.50 and a 52 week high of $53.86. The company has a 50 day moving average price of $30.30 and a two-hundred day moving average price of $29.30. The stock has a market capitalization of $799.56 million, a PE ratio of 40.36 and a beta of 1.45.

Institutional Investors Weigh In On Docebo

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its stake in Docebo by 7.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 11,444 shares of the company's stock valued at $331,000 after purchasing an additional 783 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Docebo by 0.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 552,271 shares of the company's stock valued at $16,006,000 after purchasing an additional 1,381 shares during the last quarter. Employees Retirement System of Texas purchased a new stake in shares of Docebo in the second quarter worth about $44,000. JPMorgan Chase & Co. boosted its stake in shares of Docebo by 29.1% in the second quarter. JPMorgan Chase & Co. now owns 11,294 shares of the company's stock worth $327,000 after buying an additional 2,546 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Docebo by 10.9% in the second quarter. BNP Paribas Financial Markets now owns 26,560 shares of the company's stock worth $769,000 after buying an additional 2,607 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.