Zacks Research Upgrades Docebo (NASDAQ:DCBO) to Hold

Key Points

• Zacks Research upgraded Docebo from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with a $31.23 price target.
• Docebo’s shares opened at $23.49, above their 50-day and 200-day moving averages, and have traded between $14.39 and $31.96 over the past year.
• The company exceeded quarterly EPS expectations, reporting $0.35 versus the $0.27 consensus, although revenue of $63.8 million fell short of the expected $67.14 million; institutional investors own 53.17% of the stock.

Docebo (NASDAQ:DCBO - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $31.00 price target on shares of Docebo in a research report on Friday, July 17th. National Bank Financial lifted their price objective on shares of Docebo from $22.00 to $24.00 and gave the company a "sector perform" rating in a report on Monday, August 10th. ATB Cormark Capital Markets cut their target price on shares of Docebo from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Monday, July 20th. Cantor Fitzgerald reiterated an "overweight" rating and set a $28.00 target price on shares of Docebo in a report on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of Docebo from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.23.

Docebo Price Performance

DCBO stock opened at $23.49 on Wednesday. The business's fifty day moving average price is $19.61 and its 200 day moving average price is $18.64. Docebo has a 12-month low of $14.39 and a 12-month high of $31.96. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $584.67 million, a PE ratio of 20.61 and a beta of 1.24.

Docebo (NASDAQ:DCBO - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The company had revenue of $63.80 million during the quarter, compared to analysts' expectations of $67.14 million. Docebo had a return on equity of 120.29% and a net margin of 12.98%. On average, sell-side analysts anticipate that Docebo will post 1.44 EPS for the current year.

Hedge Funds Weigh In On Docebo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG raised its holdings in shares of Docebo by 33.2% in the 4th quarter. Deutsche Bank AG now owns 3,533 shares of the company's stock valued at $78,000 after purchasing an additional 881 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new stake in shares of Docebo during the 4th quarter worth $27,000. National Bank of Canada FI grew its stake in shares of Docebo by 7.9% during the third quarter. National Bank of Canada FI now owns 24,937 shares of the company's stock worth $675,000 after purchasing an additional 1,831 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of Docebo by 13.7% during the fourth quarter. Verition Fund Management LLC now owns 16,039 shares of the company's stock worth $356,000 after purchasing an additional 1,933 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Docebo by 0.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 554,383 shares of the company's stock valued at $15,132,000 after buying an additional 2,112 shares during the last quarter. Hedge funds and other institutional investors own 53.17% of the company's stock.

Docebo Company Profile

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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