Docebo (NASDAQ:DCBO) Reaches New 52-Week High - Time to Buy?

Key Points

• Docebo shares reached a 52-week high of $33.19, after recently trading above their 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and a $36.25 average price target, with Canaccord and ATB raising their targets.
• Docebo beat quarterly estimates, reporting EPS of $0.55 versus $0.53 expected and revenue of $70.33 million versus $68.47 million expected; it also announced a special C$2.42 dividend.

Docebo Inc. (NASDAQ:DCBO - Get Free Report) hit a new 52-week high on Thursday. The stock traded as high as $33.19 and last traded at $32.5240, with a volume of 7,496 shares traded. The stock had previously closed at $32.91.

Analyst Ratings Changes

A number of brokerages recently issued reports on DCBO. Wall Street Zen raised Docebo from a "hold" rating to a "buy" rating in a report on Saturday, November 7th. Canaccord Genuity Group raised their price objective on shares of Docebo from $36.00 to $41.50 and gave the stock a "buy" rating in a report on Monday. Zacks Research raised shares of Docebo from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 19th. Weiss Ratings upgraded shares of Docebo from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Finally, ATB Cormark Capital Markets upped their target price on shares of Docebo from $44.00 to $49.00 and gave the company an "outperform" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.25.

Docebo Price Performance

The firm has a market cap of $813.84 million, a price-to-earnings ratio of 25.04 and a beta of 1.18. The stock has a 50-day moving average price of $26.45 and a 200 day moving average price of $20.89.

Docebo (NASDAQ:DCBO - Get Free Report) last released its quarterly earnings results on Friday, November 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. Docebo had a return on equity of 233.03% and a net margin of 13.79%. The firm had revenue of $70.33 million for the quarter, compared to the consensus estimate of $68.47 million. As a group, equities research analysts predict that Docebo Inc. will post 1.52 earnings per share for the current year.

Docebo Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be issued a C$2.42 dividend. The ex-dividend date of this dividend is Monday, November 16th.

Institutional Trading of Docebo

Several institutional investors and hedge funds have recently bought and sold shares of the business. NewGen Asset Management Ltd acquired a new stake in Docebo during the 1st quarter worth $1,558,000. Arrowstreet Capital Limited Partnership increased its stake in Docebo by 16.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 615,587 shares of the company's stock valued at $10,775,000 after purchasing an additional 86,038 shares during the period. Sei Investments Co. raised its holdings in shares of Docebo by 211.7% in the first quarter. Sei Investments Co. now owns 56,034 shares of the company's stock valued at $979,000 after buying an additional 38,058 shares during the last quarter. K2 Principal Fund L.P. purchased a new stake in shares of Docebo in the second quarter valued at about $303,000. Finally, Engineers Gate Manager LP raised its holdings in shares of Docebo by 25.4% in the second quarter. Engineers Gate Manager LP now owns 61,170 shares of the company's stock valued at $1,094,000 after buying an additional 12,400 shares during the last quarter. Hedge funds and other institutional investors own 53.17% of the company's stock.

About Docebo

Docebo Inc. develops cloud-based learning management software for businesses and other organizations. Its platform helps customers create, deliver and manage employee, customer and partner training, and includes tools for learning content, collaboration, reporting and integrations with other business applications. The company was founded in 2005 and is headquartered in Toronto, Canada. Docebo serves organizations across multiple industries and geographies, with its software designed for both in-person and remote learning programs.

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