Short Interest in Docebo Inc. (NASDAQ:DCBO) Declines By 6.7%

Docebo Inc. (NASDAQ:DCBO) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 134,300 shares, a drop of 6.7% from the March 15th total of 143,900 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average trading volume of 95,800 shares, the days-to-cover ratio is presently 1.4 days.

Docebo Price Performance

Shares of Docebo stock opened at $44.14 on Thursday. The firm has a market capitalization of $1.34 billion, a PE ratio of 490.44 and a beta of 1.64. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.01. Docebo has a 12 month low of $29.40 and a 12 month high of $56.41. The business’s 50-day moving average price is $49.13 and its 200-day moving average price is $46.36.

Docebo (NASDAQ:DCBO) last issued its quarterly earnings results on Friday, February 23rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. The business had revenue of $49.28 million for the quarter, compared to analysts’ expectations of $48.46 million. Docebo had a net margin of 1.57% and a return on equity of 12.45%. Sell-side analysts forecast that Docebo will post 0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DCBO has been the topic of a number of analyst reports. Eight Capital decreased their target price on shares of Docebo from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, February 26th. TheStreet upgraded Docebo from a “d+” rating to a “c-” rating in a research report on Monday, March 18th. Stifel Nicolaus lifted their price objective on Docebo from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Scotiabank upped their target price on Docebo from $60.00 to $65.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 26th. Finally, The Goldman Sachs Group lifted their price target on Docebo from $44.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.60.

Hedge Funds Weigh In On Docebo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its stake in Docebo by 30.3% in the second quarter. Osaic Holdings Inc. now owns 1,085 shares of the company’s stock worth $43,000 after purchasing an additional 252 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Docebo by 60.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 800 shares of the company’s stock worth $32,000 after acquiring an additional 300 shares during the last quarter. Two Sigma Advisers LP increased its stake in Docebo by 3.1% in the 3rd quarter. Two Sigma Advisers LP now owns 13,500 shares of the company’s stock worth $365,000 after purchasing an additional 400 shares during the period. Swiss National Bank lifted its position in Docebo by 1.3% in the second quarter. Swiss National Bank now owns 39,900 shares of the company’s stock valued at $1,581,000 after purchasing an additional 500 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Docebo by 18.6% during the first quarter. Citigroup Inc. now owns 3,494 shares of the company’s stock valued at $142,000 after purchasing an additional 549 shares during the period. Institutional investors own 53.17% of the company’s stock.

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.