Docebo (NASDAQ:DCBO) Downgraded by Wall Street Zen to Buy

Wall Street Zen downgraded shares of Docebo (NASDAQ:DCBO) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

A number of other brokerages have also commented on DCBO. Scotiabank decreased their target price on Docebo from $32.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, March 2nd. Canaccord Genuity Group decreased their price objective on Docebo from $40.00 to $36.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Craig Hallum reissued a “buy” rating and set a $38.00 price objective on shares of Docebo in a report on Monday, March 2nd. Oppenheimer reissued an “outperform” rating and set a $25.00 price objective on shares of Docebo in a report on Thursday, January 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $31.00 price objective on shares of Docebo in a report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Docebo presently has a consensus rating of “Moderate Buy” and an average price target of $30.92.

Docebo Stock Performance

Shares of Docebo stock opened at $21.20 on Friday. Docebo has a one year low of $14.39 and a one year high of $33.50. The firm has a market capitalization of $544.84 million, a price-to-earnings ratio of 18.28 and a beta of 1.31. The business has a 50-day simple moving average of $18.16 and a 200 day simple moving average of $20.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.22 and a quick ratio of 1.22.

Institutional Trading of Docebo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in shares of Docebo by 467.1% in the 1st quarter. Royal Bank of Canada now owns 158,340 shares of the company’s stock worth $4,546,000 after buying an additional 130,419 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Docebo by 29.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,294 shares of the company’s stock worth $327,000 after buying an additional 2,546 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Docebo by 3.8% in the 2nd quarter. CIBC Asset Management Inc now owns 445,517 shares of the company’s stock worth $12,915,000 after buying an additional 16,432 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Docebo by 68.5% in the 2nd quarter. Bank of America Corp DE now owns 119,508 shares of the company’s stock worth $3,459,000 after buying an additional 48,588 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Docebo by 55.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 14,034 shares of the company’s stock worth $406,000 after buying an additional 5,029 shares during the last quarter. 53.17% of the stock is owned by institutional investors.

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.