Short Interest in Docebo Inc. (NASDAQ:DCBO) Rises By 65.3%

Docebo Inc. (NASDAQ:DCBO) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 94,400 shares, an increase of 65.3% from the February 28th total of 57,100 shares. Based on an average daily trading volume, of 79,200 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DCBO. Scotiabank lowered their price objective on shares of Docebo from $55.00 to $45.00 and set a “sector outperform” rating for the company in a research report on Tuesday, March 4th. Atb Cap Markets upgraded Docebo from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. UBS Group set a $45.00 price target on Docebo in a report on Tuesday, March 4th. Finally, Morgan Stanley set a $43.00 price objective on Docebo in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $53.18.

Institutional Trading of Docebo

Several hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its stake in Docebo by 2.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 201,935 shares of the company’s stock valued at $8,917,000 after purchasing an additional 5,347 shares during the period. Erste Asset Management GmbH bought a new position in Docebo during the third quarter worth about $1,346,000. Wellington Management Group LLP increased its position in Docebo by 1,047.0% during the third quarter. Wellington Management Group LLP now owns 599,976 shares of the company’s stock worth $26,518,000 after acquiring an additional 547,666 shares during the period. Warburg Pincus LLC raised its stake in Docebo by 5.7% in the 3rd 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 in the last quarter. Finally, XTX Topco Ltd boosted its holdings in Docebo by 63.6% in the 3rd quarter. XTX Topco Ltd now owns 11,191 shares of the company’s stock valued at $495,000 after purchasing an additional 4,350 shares during the period. Institutional investors own 53.17% of the company’s stock.

Docebo Stock Down 5.3 %

Shares of Docebo stock traded down $1.65 on Friday, reaching $29.29. 55,959 shares of the company were exchanged, compared to its average volume of 83,186. The company has a market capitalization of $886.73 million, a price-to-earnings ratio of 50.50 and a beta of 1.60. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $36.96 and a 200 day moving average of $42.95. Docebo has a one year low of $27.61 and a one year high of $53.86.

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.