Docebo (NASDAQ:DCBO) Shares Down 5.5% Following Analyst Downgrade

Shares of Docebo Inc. (NASDAQ:DCBO) traded down 5.5% during trading on Tuesday after Scotiabank lowered their price target on the stock from $55.00 to $45.00. Scotiabank currently has a sector outperform rating on the stock. Docebo traded as low as $30.84 and last traded at $31.20. 243,465 shares traded hands during mid-day trading, an increase of 199% from the average session volume of 81,484 shares. The stock had previously closed at $33.02.

Several other research analysts have also commented on DCBO. Atb Cap Markets raised Docebo from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Craig Hallum upped their price target on Docebo from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Needham & Company LLC increased their price objective on shares of Docebo from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Docebo has a consensus rating of “Buy” and an average target price of $55.60.

Hedge Funds Weigh In On Docebo

Large investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in Docebo by 7.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 236,825 shares of the company’s stock valued at $10,449,000 after buying an additional 15,800 shares in the last quarter. Long Path Partners LP raised its position in shares of Docebo by 6.6% during the 3rd quarter. Long Path Partners LP now owns 731,299 shares of the company’s stock valued at $32,323,000 after acquiring an additional 45,022 shares in the last quarter. Luxor Capital Group LP bought a new position in Docebo during the third quarter worth $9,071,000. Warburg Pincus LLC lifted its stake in Docebo by 5.7% during the third quarter. Warburg Pincus LLC now owns 3,546,597 shares of the company’s stock worth $156,760,000 after purchasing an additional 190,434 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Docebo in the fourth quarter worth $348,000. Institutional investors own 53.17% of the company’s stock.

Docebo Trading Up 6.7 %

The stock has a market cap of $1.00 billion, a P/E ratio of 57.17 and a beta of 1.55. The firm’s 50 day simple moving average is $41.59 and its two-hundred day simple moving average is $44.48. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.01.

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.