Mackenzie Financial Corp Boosts Stock Position in Docebo Inc. (NASDAQ:DCBO)

Key Points

• Mackenzie Financial Corp increased its holdings in Docebo Inc. by 18.2%, acquiring an additional 58,702 shares in the 1st quarter, bringing its total ownership to approximately 1.27% of the company.
• Several research analysts have provided mixed ratings on Docebo, with Morgan Stanley downgrading their target price from $41.00 to $32.00 while Needham & Company continues to maintain a "buy" rating with a target of $42.00.
• As of now, Docebo has a market capitalization of $872.64 million and has experienced significant price fluctuations, with a one-year low of $25.50 and a high of $53.86.

Mackenzie Financial Corp grew its stake in shares of Docebo Inc. (NASDAQ:DCBO - Free Report) by 18.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 381,156 shares of the company's stock after buying an additional 58,702 shares during the period. Mackenzie Financial Corp owned 1.27% of Docebo worth $10,962,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of Docebo by 46.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,983 shares of the company's stock worth $134,000 after purchasing an additional 949 shares during the last quarter. Deutsche Bank AG bought a new position in Docebo during the fourth quarter valued at approximately $242,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Docebo during the fourth quarter valued at approximately $255,000. State of Wyoming purchased a new stake in shares of Docebo during the fourth quarter valued at approximately $275,000. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Docebo during the fourth quarter valued at approximately $327,000. 53.17% of the stock is currently owned by institutional investors.

Docebo Price Performance

NASDAQ DCBO traded up $0.14 during trading hours on Monday, hitting $30.13. The company's stock had a trading volume of 5,828 shares, compared to its average volume of 86,178. The company has a market cap of $867.74 million, a P/E ratio of 40.72 and a beta of 1.48. The company's 50 day simple moving average is $28.44 and its two-hundred day simple moving average is $31.70. Docebo Inc. has a 12 month low of $25.50 and a 12 month high of $53.86.

Wall Street Analyst Weigh In

DCBO has been the subject of a number of research analyst reports. Atb Cap Markets lowered Docebo from a "strong-buy" rating to a "hold" rating in a research note on Sunday, May 11th. Cantor Fitzgerald initiated coverage on Docebo in a research note on Monday, June 9th. They issued an "overweight" rating and a $35.00 price target for the company. Wall Street Zen lowered Docebo from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Scotiabank lowered their price objective on Docebo from $45.00 to $40.00 and set a "sector outperform" rating for the company in a research report on Monday, May 12th. Finally, National Bank Financial lowered Docebo from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Docebo currently has a consensus rating of "Moderate Buy" and an average price target of $44.13.

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.