Docebo (NASDAQ:DCBO) Trading Down 6.3% – Time to Sell?

Docebo Inc. (NASDAQ:DCBO) shares were down 6.3% during trading on Friday . The company traded as low as $42.04 and last traded at $42.45. Approximately 12,119 shares traded hands during trading, a decline of 63% from the average daily volume of 32,833 shares. The stock had previously closed at $45.29.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DCBO shares. Atb Cap Markets downgraded shares of Docebo from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Craig Hallum boosted their target price on Docebo from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, November 11th. CIBC raised their price target on Docebo from $44.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Scotiabank increased their price objective on Docebo from $50.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 24th. Finally, Needham & Company LLC lifted their target price on shares of Docebo from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.36.

Docebo Stock Performance

The firm’s 50 day moving average price is $48.12 and its 200-day moving average price is $43.64. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 75.28 and a beta of 1.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.13 and a quick ratio of 1.13.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DCBO. Plato Investment Management Ltd acquired a new position in Docebo in the third quarter worth about $35,000. Barclays PLC bought a new stake in shares of Docebo in the 3rd quarter valued at approximately $142,000. Riverwater Partners LLC acquired a new position in shares of Docebo in the 3rd quarter worth approximately $200,000. Point72 Asset Management L.P. bought a new position in shares of Docebo during the 2nd quarter worth approximately $189,000. Finally, Pathway Financial Advisors LLC acquired a new stake in Docebo in the 3rd quarter valued at $221,000. 53.17% of the stock is currently owned by institutional investors and hedge funds.

About Docebo

Docebo Inc operates as a learning management software company that provides artificial intelligence (AI)-powered learning platform in North America and internationally. It offers Learning Management System (LMS) to train internal and external workforces, partners, and customers. The company's cloud platform consists of a learning suite, which includes Docebo Learn LMS, a cloud-based learning platform that allows learning administrators to deliver personalized learning; Docebo Shape, an AI-based learning content creation tool, which enables learning administrators to turn internal and external resources into engaging, multilingual, and microlearning content to share across the business; Docebo Content that allows off-the-shelf learning content by partnering content specialist; Docebo Learning Impact, a learning measurement tool that enables administrators to prove and improve training programs; Docebo Learn Data, which gives a comprehensive view on learning data to business results; Docebo Connect that connects Docebo to custom tech stack and making integrations; and Docebo Flow that allows businesses to directly inject learning into the flow of work.