Docebo (NASDAQ:DCBO) Shares Gap Down - Here's What Happened

Key Points

• Docebo shares fell at the open, dropping from a prior close of $30.45 to $29.58 before trading around $30.00.
• Analyst sentiment remains generally positive, with an average rating of “Moderate Buy” and an average price target of $30.82, though some firms recently lowered targets or downgraded the stock.
• Docebo’s latest quarterly results beat earnings expectations, reporting $0.35 in EPS versus $0.27 expected, while revenue of $63.8 million came in below the $67.14 million consensus estimate.

Shares of Docebo Inc. (NASDAQ:DCBO - Get Free Report) gapped down prior to trading on Wednesday. The stock had previously closed at $30.45, but opened at $29.58. Docebo shares last traded at $30.0010, with a volume of 8,523 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC reissued a "buy" rating and issued a $31.00 price target on shares of Docebo in a report on Friday, July 17th. ATB Cormark Capital Markets decreased their price objective on Docebo from $36.00 to $35.00 and set an "outperform" rating on the stock in a report on Monday, July 20th. Wall Street Zen downgraded Docebo from a "buy" rating to a "hold" rating in a research report on Saturday, October 17th. Weiss Ratings raised Docebo from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Finally, National Bank Financial upped their target price on Docebo from $24.00 to $31.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.82.

Docebo Price Performance

The firm has a market capitalization of $743.24 million, a P/E ratio of 25.91 and a beta of 1.22. The firm's 50 day simple moving average is $25.18 and its two-hundred day simple moving average is $20.32.

Docebo (NASDAQ:DCBO - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The company had revenue of $63.80 million for the quarter, compared to the consensus estimate of $67.14 million. As a group, equities research analysts forecast that Docebo Inc. will post 1.45 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DCBO. Arrowstreet Capital Limited Partnership raised 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 worth $10,775,000 after buying an additional 86,038 shares in the last quarter. NewGen Asset Management Ltd bought a new position in Docebo in the first quarter worth $1,558,000. Sei Investments Co. raised its holdings in Docebo by 211.7% in the first quarter. Sei Investments Co. now owns 56,034 shares of the company's stock worth $979,000 after purchasing an additional 38,058 shares in the last quarter. Lazard Asset Management LLC lifted its position in Docebo by 74.4% during the first quarter. Lazard Asset Management LLC now owns 28,458 shares of the company's stock valued at $498,000 after buying an additional 12,141 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of Docebo by 4.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 44,535 shares of the company's stock valued at $981,000 after buying an additional 1,894 shares in the last quarter. 53.17% of the stock is owned by hedge funds and other institutional investors.

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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