Needham & Company LLC Reaffirms Buy Rating for Docebo (NASDAQ:DCBO)

Docebo (NASDAQ:DCBO)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $31.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 52.11% from the company’s previous close.

Several other analysts also recently issued reports on DCBO. Wall Street Zen downgraded Docebo from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. National Bank Financial cut their price objective on Docebo from $24.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 27th. Zacks Research lowered Docebo from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings raised Docebo from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, July 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price target on shares of Docebo in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

Docebo Trading Up 9.9%

Docebo stock opened at $20.38 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $512.35 million, a price-to-earnings ratio of 17.57 and a beta of 1.27. Docebo has a one year low of $14.39 and a one year high of $33.42. The company’s fifty day moving average price is $17.84 and its two-hundred day moving average price is $18.52.

Hedge Funds Weigh In On Docebo

Institutional investors have recently made changes to their positions in the business. Deutsche Bank AG increased its position in Docebo by 33.2% in the 4th quarter. Deutsche Bank AG now owns 3,533 shares of the company’s stock worth $78,000 after buying an additional 881 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in shares of Docebo during the fourth quarter worth approximately $27,000. National Bank of Canada FI boosted its position in shares of Docebo by 7.9% in the third quarter. National Bank of Canada FI now owns 24,937 shares of the company’s stock valued at $675,000 after acquiring an additional 1,831 shares during the period. Verition Fund Management LLC boosted its position in shares of Docebo by 13.7% in the fourth quarter. Verition Fund Management LLC now owns 16,039 shares of the company’s stock valued at $356,000 after acquiring an additional 1,933 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Docebo by 0.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 554,383 shares of the company’s stock worth $15,132,000 after acquiring an additional 2,112 shares during the last quarter. 53.17% of the stock is currently owned by institutional investors.

Docebo Company Profile

Docebo is a cloud-based learning management system (LMS) provider that offers enterprise organizations a comprehensive platform for employee, customer and partner training. The company’s software is designed to streamline learning and development with features such as AI-powered content recommendations, automated learning paths and social collaboration tools. Docebo’s platform supports multiple languages and integrates with a variety of third-party applications, enabling businesses to deliver training at scale across different departments and regions.

Founded in 2005 and headquartered in Toronto, Canada, Docebo has expanded its footprint to serve customers in North America, Europe, the Middle East and the Asia Pacific region.