Needham & Company LLC Reiterates "Buy" Rating for Docebo (NASDAQ:DCBO)

Key Points

• Needham & Company LLC reiterated a Buy rating on Docebo with a $31 price target, implying roughly a 70% upside from the current share price.
• Analyst consensus is mixed but favorable — 2 Strong Buy, 10 Buy, 3 Hold and 1 Sell — resulting in an average rating of "Moderate Buy" and an average price target of $30.92.
• Docebo opened at $18.21, has a market cap of about $470M, a P/E of 14.34 and a 12‑month range of $14.39–$33.70; institutional investors own roughly 53% of the shares and several funds recently increased or initiated positions.

Docebo (NASDAQ:DCBO - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $31.00 target price on the stock. Needham & Company LLC's price target would suggest a potential upside of 70.24% from the stock's current price.

Other equities analysts have also issued reports about the stock. UBS Group reaffirmed a "buy" rating on shares of Docebo in a research note on Monday, March 2nd. Wall Street Zen upgraded shares of Docebo from a "buy" rating to a "strong-buy" rating in a report on Sunday, March 8th. Scotiabank cut their price target on Docebo from $32.00 to $25.00 and set an "outperform" rating on the stock in a report on Monday, March 2nd. Canaccord Genuity Group cut their price objective on Docebo from $40.00 to $36.00 and set a "buy" rating on the stock in a research report on Monday, March 2nd. Finally, Cantor Fitzgerald reduced their price target on Docebo from $35.00 to $28.00 and set an "overweight" rating for the company in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Docebo has an average rating of "Moderate Buy" and an average price target of $30.92.

Docebo Stock Performance

DCBO opened at $18.21 on Wednesday. The stock's 50 day moving average price is $17.89 and its two-hundred day moving average price is $20.90. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.03. Docebo has a 12-month low of $14.39 and a 12-month high of $33.70. The firm has a market capitalization of $470.18 million, a P/E ratio of 14.34 and a beta of 1.40.

Hedge Funds Weigh In On Docebo

A number of large investors have recently bought and sold shares of the business. Topline Capital Management LLC increased its holdings in Docebo by 484.9% in the 3rd quarter. Topline Capital Management LLC now owns 323,219 shares of the company's stock valued at $8,834,000 after purchasing an additional 267,962 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Docebo during the 3rd quarter worth approximately $823,000. Essex Investment Management Co. LLC lifted its stake in Docebo by 48.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 103,346 shares of the company's stock valued at $2,824,000 after buying an additional 33,651 shares in the last quarter. Renaissance Group LLC acquired a new position in Docebo in the third quarter valued at $1,071,000. Finally, Claret Asset Management Corp acquired a new stake in shares of Docebo during the 3rd quarter worth $957,000. Institutional investors and hedge funds own 53.17% of the company's stock.

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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