Canaccord Genuity Group Cuts Docebo (NASDAQ:DCBO) Price Target to $55.00

Docebo (NASDAQ:DCBO - Get Free Report) had its price target reduced by equities researchers at Canaccord Genuity Group from $65.00 to $55.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 47.26% from the company's current price.

A number of other research analysts also recently weighed in on the stock. Scotiabank decreased their target price on shares of Docebo from $65.00 to $50.00 and set a "sector outperform" rating for the company in a research report on Tuesday. National Bankshares reduced their price objective on shares of Docebo from $65.00 to $55.00 and set an "outperform" rating on the stock in a research note on Monday. Stifel Nicolaus lowered their price target on shares of Docebo from $70.00 to $60.00 and set a "buy" rating for the company in a report on Monday. TheStreet upgraded Docebo from a "d+" rating to a "c-" rating in a report on Monday, March 18th. Finally, Morgan Stanley dropped their price objective on shares of Docebo from $65.00 to $59.00 and set an "overweight" rating on the stock in a report on Monday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $55.00.

Docebo Stock Up 3.0 %

Shares of DCBO stock traded up $1.09 on Tuesday, reaching $37.35. 164,443 shares of the company's stock traded hands, compared to its average volume of 100,918. Docebo has a 12-month low of $29.77 and a 12-month high of $56.41. The business's 50 day moving average price is $47.48 and its two-hundred day moving average price is $46.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $1.13 billion, a P/E ratio of 169.09 and a beta of 1.64.

Docebo (NASDAQ:DCBO - Get Free Report) last announced its quarterly earnings results on Friday, February 23rd. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.12. The firm had revenue of $49.28 million for the quarter, compared to analysts' expectations of $48.46 million. Docebo had a return on equity of 17.09% and a net margin of 3.55%. On average, equities analysts forecast that Docebo will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DCBO. Hillsdale Investment Management Inc. boosted its position in Docebo by 19.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 738,692 shares of the company's stock valued at $36,129,000 after buying an additional 119,434 shares during the last quarter. National Bank of Canada FI raised its holdings in Docebo by 291.7% during the 4th quarter. National Bank of Canada FI now owns 373,582 shares of the company's stock worth $16,811,000 after buying an additional 278,201 shares during the period. American Century Companies Inc. grew its holdings in shares of Docebo by 157.5% during the third quarter. American Century Companies Inc. now owns 252,247 shares of the company's stock valued at $10,229,000 after buying an additional 154,281 shares in the last quarter. Mackenzie Financial Corp lifted its position in Docebo by 235.6% in the 4th quarter. Mackenzie Financial Corp now owns 247,916 shares of the company's stock worth $11,978,000 after buying an additional 174,037 shares in the last quarter. Finally, Bridger Management LLC lifted its holdings in shares of Docebo by 22.9% during the 4th quarter. Bridger Management LLC now owns 192,892 shares of the company's stock valued at $9,332,000 after buying an additional 36,000 shares during the last quarter. Institutional investors and hedge funds 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.