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

Docebo Inc. (NASDAQ:DCBO)’s stock price fell 5.5% during mid-day 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.

Other analysts also recently issued research reports about the company. Craig Hallum increased their price objective on Docebo from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC boosted their target price on Docebo from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Atb Cap Markets raised shares of Docebo from a “hold” rating to a “strong-buy” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $55.60.

Hedge Funds Weigh In On Docebo

Hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Docebo by 7.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 236,825 shares of the company’s stock worth $10,449,000 after acquiring an additional 15,800 shares during the last quarter. Intact Investment Management Inc. purchased a new position in Docebo in the 3rd quarter worth about $3,319,000. Long Path Partners LP lifted its holdings in 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 buying an additional 45,022 shares in the last quarter. Luxor Capital Group LP bought a new position in Docebo in the third quarter worth approximately $9,071,000. Finally, Warburg Pincus LLC lifted its stake in Docebo by 5.7% in the third quarter. Warburg Pincus LLC now owns 3,546,597 shares of the company’s stock worth $156,760,000 after acquiring an additional 190,434 shares during the period. 53.17% of the stock is currently owned by institutional investors.

Docebo Trading Down 5.5 %

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $944.74 million, a P/E ratio of 53.83 and a beta of 1.55. The stock’s 50 day moving average price is $42.16 and its 200-day moving average price is $44.64.

Docebo Company Profile

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.