Docebo (NASDAQ:DCBO) Trading Down 5.5% on Analyst Downgrade

Shares of Docebo Inc. (NASDAQ:DCBO - Get Free Report) 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 trading, an increase of 199% from the average session volume of 81,484 shares. The stock had previously closed at $33.02.

A number of other equities analysts also recently weighed in on DCBO. Needham & Company LLC upped their target price on Docebo from $50.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 8th. Atb Cap Markets upgraded Docebo from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Finally, Craig Hallum upped their target price on Docebo from $58.00 to $62.00 and gave the company a "buy" rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Docebo has an average rating of "Buy" and a consensus target price of $55.60.

Hedge Funds Weigh In On Docebo

A number of hedge funds have recently added to or reduced their stakes in the company. Warburg Pincus LLC grew its holdings in Docebo by 5.7% during the third quarter. Warburg Pincus LLC now owns 3,546,597 shares of the company's stock valued at $156,760,000 after purchasing an additional 190,434 shares during the last quarter. Long Path Partners LP grew its holdings in Docebo by 1.2% during the fourth quarter. Long Path Partners LP now owns 740,055 shares of the company's stock valued at $33,132,000 after purchasing an additional 8,756 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in Docebo by 207.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 611,085 shares of the company's stock valued at $27,372,000 after purchasing an additional 412,403 shares during the last quarter. Wellington Management Group LLP grew its holdings in Docebo by 1,047.0% during the third quarter. Wellington Management Group LLP now owns 599,976 shares of the company's stock valued at $26,518,000 after purchasing an additional 547,666 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Docebo by 44.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 435,548 shares of the company's stock valued at $19,504,000 after purchasing an additional 134,867 shares during the last quarter. Institutional investors and hedge funds own 53.17% of the company's stock.

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Docebo Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a fifty day simple moving average of $41.00 and a 200 day simple moving average of $44.32. The company has a market cap of $939.89 million, a price-to-earnings ratio of 53.52 and a beta of 1.60.

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.