Docebo (NASDAQ:DCBO) Sets New 12-Month High on Better-Than-Expected Earnings

Key Points

• Docebo shares reached a new 12-month high of $31.50 after the company reported quarterly earnings of $0.46 per share, beating analyst expectations of $0.44.
• Analysts’ consensus rating is Moderate Buy, with a consensus price target of $31.30; coverage includes one Strong Buy, nine Buy, and four Hold ratings.
• Institutional investors and hedge funds own 53.17% of Docebo’s shares, with several firms recently establishing or increasing positions.

Docebo Inc. (NASDAQ:DCBO - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $31.50 and last traded at $30.86, with a volume of 290 shares trading hands. The stock had previously closed at $30.40.

The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.02. Docebo had a net margin of 12.98% and a return on equity of 120.29%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DCBO. Wall Street Zen downgraded Docebo from a "buy" rating to a "hold" rating in a report on Saturday, October 17th. ATB Cormark Capital Markets lowered their target price on Docebo from $36.00 to $35.00 and set an "outperform" rating for the company in a research note on Monday, July 20th. Oppenheimer boosted their target price on Docebo from $25.00 to $35.00 and gave the stock an "outperform" rating in a research report on Monday. Needham & Company LLC restated a "buy" rating and set a $31.00 target price on shares of Docebo in a research report on Friday, July 17th. Finally, Zacks Research raised shares of Docebo from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.30.

Institutional Investors Weigh In On Docebo

Institutional investors have recently made changes to their positions in the stock. Allworth Financial LP acquired a new stake in shares of Docebo in the 2nd quarter valued at approximately $52,000. NewEdge Advisors LLC increased its stake in Docebo by 1,101.5% in the first quarter. NewEdge Advisors LLC now owns 3,977 shares of the company's stock valued at $69,000 after purchasing an additional 3,646 shares in the last quarter. State of Wyoming acquired a new stake in Docebo in the second quarter worth $137,000. DGS Capital Management LLC acquired a new stake in Docebo in the first quarter worth $178,000. Finally, K2 Principal Fund L.P. bought a new position in shares of Docebo during the second quarter worth $303,000. 53.17% of the stock is owned by institutional investors and hedge funds.

Docebo Price Performance

The company has a market capitalization of $767.59 million, a P/E ratio of 27.16 and a beta of 1.18. The business's 50-day moving average price is $26.01 and its two-hundred day moving average price is $20.63.

About Docebo

Docebo Inc develops learning management and learning technology solutions for businesses and other organizations. Its cloud-based platform is designed to help companies create, manage, deliver and measure training for employees, customers, partners and other learners.

The Docebo Learning Platform includes tools for course administration, content delivery, artificial intelligence-supported learning, reporting and analytics, and integrations with other enterprise software. The company also offers capabilities for creating and managing learning content, supporting instructor-led and virtual training, and delivering extended-enterprise education programs.

Founded in 2005 by Claudio Erba, Docebo is headquartered in Toronto, Canada, and serves organizations internationally.

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