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

Docebo (NASDAQ:DCBO)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a note issued to investors on Thursday, Stock Target Advisor reports. They presently have a $50.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 21.09% from the stock’s current price.

Other analysts have also issued reports about the company. Craig Hallum started coverage on Docebo in a report on Friday, June 7th. They set a “buy” rating and a $58.00 price objective for the company. CIBC cut their target price on Docebo from $53.00 to $44.00 and set an “outperformer” rating on the stock in a report on Friday, June 21st. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Docebo presently has an average rating of “Moderate Buy” and an average target price of $54.92.

Docebo Price Performance

DCBO opened at $41.29 on Thursday. The stock has a fifty day moving average of $40.22 and a 200-day moving average of $42.54. The firm has a market capitalization of $1.25 billion, a P/E ratio of 187.68 and a beta of 1.55. Docebo has a 12-month low of $33.81 and a 12-month high of $56.41. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.01.

Docebo (NASDAQ:DCBO) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). Docebo had a return on equity of 29.82% and a net margin of 8.56%. The firm had revenue of $53.05 million for the quarter, compared to analysts’ expectations of $52.30 million. Equities analysts forecast that Docebo will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Docebo

Several institutional investors and hedge funds have recently added to or reduced their stakes in DCBO. Fiera Capital Corp increased its stake in Docebo by 38.0% during the fourth quarter. Fiera Capital Corp now owns 190,249 shares of the company’s stock valued at $9,218,000 after acquiring an additional 52,364 shares during the period. TD Asset Management Inc grew its stake in shares of Docebo by 572.0% in the 4th quarter. TD Asset Management Inc now owns 94,488 shares of the company’s stock valued at $4,585,000 after purchasing an additional 80,428 shares during the period. Scotia Capital Inc. bought a new stake in shares of Docebo in the 4th quarter valued at approximately $486,000. Quadrature Capital Ltd grew its stake in shares of Docebo by 327.4% in the 4th quarter. Quadrature Capital Ltd now owns 140,600 shares of the company’s stock valued at $6,810,000 after purchasing an additional 107,700 shares during the period. Finally, Bridger Management LLC grew its stake in shares of Docebo by 22.9% in the 4th quarter. Bridger Management LLC now owns 192,892 shares of the company’s stock valued at $9,332,000 after purchasing an additional 36,000 shares during the period. 53.17% of the stock is currently owned by institutional investors.

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.