Canaccord Genuity Group Boosts Docebo (NASDAQ:DCBO) Price Target to $50.00

Docebo (NASDAQ:DCBO) had its price objective raised by Canaccord Genuity Group from $45.00 to $50.00 in a research report released on Friday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on DCBO. Stifel Canada reaffirmed a buy rating on shares of Docebo in a report on Sunday, September 17th. National Bankshares boosted their target price on Docebo from $50.00 to $60.00 and gave the company an outperform rating in a research report on Friday. Finally, Morgan Stanley raised Docebo from an equal weight rating to an overweight rating and boosted their target price for the company from $40.00 to $49.00 in a research report on Thursday, August 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $51.71.

Docebo Stock Up 1.9 %

Shares of DCBO opened at $45.65 on Friday. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 1,141.54 and a beta of 1.58. Docebo has a 1 year low of $28.31 and a 1 year high of $46.51. The business’s 50 day simple moving average is $40.44 and its 200-day simple moving average is $38.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.88 and a quick ratio of 1.88.

Docebo (NASDAQ:DCBO) last issued its quarterly earnings data on Thursday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. The business had revenue of $43.59 million for the quarter, compared to analysts’ expectations of $43.03 million. Docebo had a return on equity of 6.89% and a net margin of 0.71%. As a group, equities analysts expect that Docebo will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Docebo

Several large investors have recently modified their holdings of DCBO. Bank of Montreal Can bought a new position in Docebo in the 2nd quarter valued at $23,313,000. CIBC Asset Management Inc grew its position in Docebo by 54.1% in the 2nd quarter. CIBC Asset Management Inc now owns 376,274 shares of the company’s stock valued at $14,905,000 after acquiring an additional 132,111 shares during the last quarter. Acadian Asset Management LLC grew its position in Docebo by 100.3% in the 2nd quarter. Acadian Asset Management LLC now owns 249,477 shares of the company’s stock valued at $9,863,000 after acquiring an additional 124,895 shares during the last quarter. Bank of America Corp DE grew its position in Docebo by 45.3% in the 1st quarter. Bank of America Corp DE now owns 247,942 shares of the company’s stock valued at $12,848,000 after acquiring an additional 77,318 shares during the last quarter. Finally, Baillie Gifford & Co. grew its position in Docebo by 17.4% in the 2nd quarter. Baillie Gifford & Co. now owns 238,813 shares of the company’s stock valued at $9,464,000 after acquiring an additional 35,452 shares during the last quarter. Institutional investors own 45.96% of the company’s stock.

Docebo Company Profile

Docebo Inc operates as a learning management software company that provides artificial intelligence (AI)-powered learning platform in North America, Europe, and the Asia-Pacific region. 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; and Docebo Content that provides off-the-shelf learning content by partnering content specialist.