Docebo Inc. (NASDAQ:DCBO) Sees Significant Decline in Short Interest

Docebo Inc. (NASDAQ:DCBO) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 181,700 shares, a drop of 6.4% from the May 31st total of 194,200 shares. Based on an average daily volume of 119,000 shares, the short-interest ratio is presently 1.5 days. Currently, 1.3% of the company’s stock are sold short.

Docebo Trading Up 0.5 %

Shares of NASDAQ:DCBO opened at $38.72 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $38.96 and its 200 day moving average price is $44.74. The company has a market cap of $1.17 billion, a PE ratio of 176.00 and a beta of 1.54. Docebo has a fifty-two week low of $33.81 and a fifty-two week high of $56.41.

Docebo (NASDAQ:DCBO) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The business had revenue of $51.40 million during the quarter, compared to analyst estimates of $51.16 million. Docebo had a return on equity of 19.31% and a net margin of 3.55%. Sell-side analysts anticipate that Docebo will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On Docebo

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hillsdale Investment Management Inc. grew its position in Docebo by 19.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 738,692 shares of the company’s stock valued at $36,129,000 after buying an additional 119,434 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Docebo by 291.7% during the fourth quarter. National Bank of Canada FI now owns 373,582 shares of the company’s stock valued at $16,811,000 after acquiring an additional 278,201 shares during the period. American Century Companies Inc. raised its holdings in Docebo by 157.5% during the third quarter. American Century Companies Inc. now owns 252,247 shares of the company’s stock worth $10,229,000 after purchasing an additional 154,281 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Docebo by 235.6% during the fourth quarter. Mackenzie Financial Corp now owns 247,916 shares of the company’s stock worth $11,978,000 after purchasing an additional 174,037 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its position in Docebo by 75.2% in the first quarter. Quadrature Capital Ltd now owns 246,400 shares of the company’s stock worth $12,045,000 after purchasing an additional 105,800 shares during the period. 53.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on DCBO shares. TheStreet raised Docebo from a “d+” rating to a “c-” rating in a report on Monday, March 18th. Canaccord Genuity Group lowered their price target on Docebo from $65.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, May 14th. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of Docebo in a research note on Wednesday, June 12th. Craig Hallum assumed coverage on shares of Docebo in a research note on Friday, June 7th. They set a “buy” rating and a $58.00 target price for the company. Finally, CIBC reduced their price target on shares of Docebo from $53.00 to $44.00 and set an “outperformer” rating on the stock in a research report on Friday, June 21st. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.50.

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.