TD Securities Initiates Coverage on Docebo (NASDAQ:DCBO)

Key Points

• TD Securities has reaffirmed a "buy" rating for Docebo (DCBO) with a price target of $37.00, indicating a potential upside of 35.83% from its previous closing price.
• The consensus rating for Docebo is currently a "Moderate Buy", with an average price target of $42.25 based on feedback from six analysts rating the stock as a buy.
• Institutional investors are increasing their stakes in Docebo, with significant recent gains in holdings by Long Path Partners LP and Rice Hall James & Associates LLC among others, indicating growing investor confidence.

Equities research analysts at TD Securities started coverage on shares of Docebo (NASDAQ:DCBO - Get Free Report) in a research report issued on Friday, MarketBeat.com reports. The firm set a "buy" rating and a $37.00 price target on the stock. TD Securities' price objective would indicate a potential upside of 33.11% from the stock's previous close.

Several other brokerages also recently commented on DCBO. Wall Street Zen raised Docebo from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Cantor Fitzgerald initiated coverage on Docebo in a research note on Monday, June 9th. They issued an "overweight" rating and a $35.00 price objective for the company. Finally, Zacks Research raised Docebo to a "hold" rating in a research note on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Docebo currently has an average rating of "Moderate Buy" and a consensus price target of $42.25.

Docebo Stock Up 2.0%

DCBO stock traded up $0.56 during trading on Friday, reaching $27.80. 6,195 shares of the stock were exchanged, compared to its average volume of 86,342. The firm's 50 day moving average is $30.30 and its 200 day moving average is $29.30. Docebo has a twelve month low of $25.50 and a twelve month high of $53.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.01. The firm has a market cap of $798.58 million, a P/E ratio of 40.20 and a beta of 1.45.

Institutional Investors Weigh In On Docebo

Institutional investors have recently made changes to their positions in the stock. Warburg Pincus LLC raised its position in shares of Docebo by 11.1% in the first quarter. Warburg Pincus LLC now owns 3,630,715 shares of the company's stock worth $104,238,000 after buying an additional 362,840 shares in the last quarter. Long Path Partners LP raised its position in shares of Docebo by 30.5% in the second quarter. Long Path Partners LP now owns 1,176,750 shares of the company's stock worth $34,055,000 after buying an additional 275,176 shares in the last quarter. Beutel Goodman & Co Ltd. purchased a new stake in shares of Docebo in the second quarter worth $7,189,000. Royal Bank of Canada raised its position in shares of Docebo by 467.1% in the first quarter. Royal Bank of Canada now owns 158,340 shares of the company's stock worth $4,546,000 after buying an additional 130,419 shares in the last quarter. Finally, Nicola Wealth Management LTD. purchased a new stake in shares of Docebo in the first quarter worth $3,424,000. Hedge funds and other institutional investors own 53.17% of the company's stock.

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.