Docebo (NASDAQ:DCBO) Stock Price Target Raised at Canaccord Genuity Group

Docebo (NASDAQ:DCBO) had its target price hoisted by analysts at Canaccord Genuity Group from $36.00 to $41.50 in a research note issued on Monday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group‘s price target indicates a potential upside of 32.97% from the company’s previous close.

A number of other analysts have also issued reports on the company. Oppenheimer increased their target price on Docebo from $25.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, November 2nd. Weiss Ratings upgraded Docebo from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Zacks Research upgraded Docebo from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. Needham & Company LLC upped their price target on Docebo from $31.00 to $42.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wall Street Zen raised Docebo from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.25.

Docebo Stock Up 7.7%

Shares of Docebo stock traded up $2.24 during trading on Monday, hitting $31.21. The stock had a trading volume of 59,244 shares, compared to its average volume of 130,248. Docebo has a 1 year low of $14.39 and a 1 year high of $31.94. The stock has a 50 day simple moving average of $26.09 and a 200 day simple moving average of $20.68. The company has a market capitalization of $779.53 million, a PE ratio of 24.01 and a beta of 1.18.

Docebo (NASDAQ:DCBO) last issued its quarterly earnings results on Friday, November 6th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. Docebo had a net margin of 13.79% and a return on equity of 161.21%. The business had revenue of $70.33 million during the quarter, compared to the consensus estimate of $68.47 million. As a group, equities analysts expect that Docebo will post 1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Docebo

Institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. grew 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 acquiring an additional 1,894 shares in the last quarter. Allworth Financial LP purchased a new position in Docebo in the second quarter valued at about $52,000. NewEdge Advisors LLC grew 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. Turtle Creek Asset Management Inc. increased its position in Docebo by 38.6% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 21,200 shares of the company’s stock worth $370,000 after purchasing an additional 5,900 shares during the last quarter. Finally, State of Wyoming acquired a new position in Docebo in the 2nd quarter worth about $137,000. Institutional investors and hedge funds own 53.17% of the company’s stock.

Docebo Company Profile

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.