Docebo (NASDAQ:DCBO) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Docebo (NASDAQ:DCBO) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

Several other equities analysts have also issued reports on the company. National Bank Financial lifted their price target on Docebo from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th. Zacks Research upgraded Docebo from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. ATB Cormark Capital Markets reduced their price objective on Docebo from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, July 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Docebo in a research note on Friday, July 17th. Finally, Weiss Ratings upgraded Docebo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.18.

Docebo Price Performance

Shares of NASDAQ:DCBO opened at $28.16 on Friday. The company’s 50 day simple moving average is $24.31 and its 200 day simple moving average is $20.42. The stock has a market capitalization of $705.41 million, a price-to-earnings ratio of 24.70 and a beta of 1.22. Docebo has a 1 year low of $14.39 and a 1 year high of $28.89.

Docebo (NASDAQ:DCBO) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. Docebo had a net margin of 12.98% and a return on equity of 120.29%. The business had revenue of $63.80 million during the quarter, compared to the consensus estimate of $67.14 million. As a group, analysts anticipate that Docebo will post 1.44 EPS for the current fiscal year.

Institutional Trading of Docebo

A number of hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its stake in shares of Docebo by 16.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 615,587 shares of the company’s stock valued at $10,775,000 after acquiring an additional 86,038 shares during the last quarter. NewGen Asset Management Ltd acquired a new stake in shares of Docebo during the 1st quarter valued at $1,558,000. Engineers Gate Manager LP boosted its holdings in shares of Docebo by 25.4% during the 2nd quarter. Engineers Gate Manager LP now owns 61,170 shares of the company’s stock valued at $1,094,000 after acquiring an additional 12,400 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Docebo by 211.7% during the 1st quarter. Sei Investments Co. now owns 56,034 shares of the company’s stock valued at $979,000 after acquiring an additional 38,058 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in Docebo by 4.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 44,535 shares of the company’s stock worth $981,000 after acquiring an additional 1,894 shares during the last quarter. Institutional investors and hedge funds 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 is designed to help companies create, manage and deliver employee, customer, partner and member education through online learning programs.

The Docebo Learning Platform includes tools for course administration, content creation and management, assessments, reporting, automation and artificial intelligence. It also supports extended-enterprise learning, enabling organizations to provide training to audiences outside their workforce.