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

Shares of Docebo Inc. (NASDAQ:DCBO) dropped 5.5% 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 were traded during mid-day trading, an increase of 199% from the average daily volume of 81,484 shares. The stock had previously closed at $33.02.

Several other research analysts have also recently issued reports on the stock. Craig Hallum raised their target price on shares of Docebo from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Atb Cap Markets raised Docebo from a “hold” rating to a “strong-buy” rating in a report on Friday. Finally, Needham & Company LLC increased their price target on shares of Docebo from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $55.60.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new stake in Docebo during the 3rd quarter worth approximately $35,000. Quantbot Technologies LP acquired a new stake in shares of Docebo in the fourth quarter valued at $132,000. Tower Research Capital LLC TRC boosted its holdings in Docebo by 46.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,983 shares of the company’s stock valued at $134,000 after purchasing an additional 949 shares during the period. Barclays PLC acquired a new position in Docebo during the 3rd quarter worth approximately $142,000. Finally, Deutsche Bank AG acquired a new stake in shares of Docebo in the 4th quarter valued at $242,000. Institutional investors and hedge funds own 53.17% of the company’s stock.

Docebo Trading Down 5.5 %

The stock has a market cap of $944.74 million, a price-to-earnings ratio of 53.83 and a beta of 1.55. The business’s 50 day moving average is $42.16 and its 200 day moving average is $44.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.13 and a quick ratio of 1.13.

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.