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

Docebo Inc. (NASDAQ:DCBO)’s share price dropped 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. Approximately 243,465 shares traded hands during trading, an increase of 199% from the average daily volume of 81,484 shares. The stock had previously closed at $33.02.

DCBO has been the topic of a number of other reports. Atb Cap Markets upgraded shares of Docebo from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Needham & Company LLC upped 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. Finally, Craig Hallum increased their price target on shares of Docebo from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. 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 data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $55.60.

Institutional Investors Weigh In On Docebo

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in Docebo by 1,047.0% in 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 last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Docebo by 207.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 611,085 shares of the company’s stock worth $27,372,000 after purchasing an additional 412,403 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Docebo in the 4th quarter worth approximately $17,163,000. Mackenzie Financial Corp boosted its position in Docebo by 4,534.3% during the 4th quarter. Mackenzie Financial Corp now owns 322,454 shares of the company’s stock valued at $14,444,000 after purchasing an additional 315,496 shares during the period. Finally, TFJ Management LLC bought a new position in Docebo during the 4th quarter worth $12,138,000. Institutional investors own 53.17% of the company’s stock.

Docebo Price 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 stock has a market capitalization of $941.41 million, a price-to-earnings ratio of 53.60 and a beta of 1.55. The company has a 50-day simple moving average of $41.86 and a two-hundred day simple moving average of $44.56.

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.