Docebo (NASDAQ:DCBO) Receives Buy Rating from Needham & Company LLC

Docebo (NASDAQ:DCBO)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $38.00 target price on the stock. Needham & Company LLC’s price target would suggest a potential upside of 92.00% from the stock’s previous close.

A number of other brokerages have also weighed in on DCBO. Cantor Fitzgerald dropped their price target on Docebo from $35.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Weiss Ratings cut shares of Docebo from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, December 31st. National Bankshares cut their price target on shares of Docebo from $31.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 22nd. TD Securities raised shares of Docebo to a “strong-buy” rating in a report on Thursday, January 15th. Finally, Oppenheimer began coverage on shares of Docebo in a report on Wednesday, November 5th. They set an “outperform” rating and a $35.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Docebo currently has an average rating of “Moderate Buy” and an average target price of $34.80.

Docebo Stock Up 6.9%

Shares of Docebo stock traded up $1.27 during trading on Thursday, reaching $19.79. The company’s stock had a trading volume of 342,606 shares, compared to its average volume of 104,328. Docebo has a 1-year low of $18.11 and a 1-year high of $43.84. The company has a 50-day simple moving average of $21.18 and a two-hundred day simple moving average of $25.97. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.05. The company has a market cap of $569.02 million, a price-to-earnings ratio of 26.62 and a beta of 1.45.

Institutional Investors Weigh In On Docebo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Long Path Partners LP increased its stake in shares of Docebo by 30.5% in the 2nd quarter. Long Path Partners LP now owns 1,176,750 shares of the company’s stock valued at $34,055,000 after purchasing an additional 275,176 shares in the last quarter. Quadrature Capital Ltd boosted its position in Docebo by 84.6% during the second quarter. Quadrature Capital Ltd now owns 86,200 shares of the company’s stock worth $2,487,000 after purchasing an additional 39,500 shares in the last quarter. Bank of Montreal Can grew its holdings in Docebo by 21.6% in the second quarter. Bank of Montreal Can now owns 399,152 shares of the company’s stock valued at $11,577,000 after purchasing an additional 70,827 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Docebo by 7.3% in the second quarter. Public Employees Retirement System of Ohio now owns 11,444 shares of the company’s stock valued at $331,000 after buying an additional 783 shares in the last quarter. Finally, Louisbourg Investments Inc. raised its stake in shares of Docebo by 45.6% during the 2nd quarter. Louisbourg Investments Inc. now owns 111,672 shares of the company’s stock worth $3,231,000 after buying an additional 35,000 shares during the period. Institutional investors and hedge funds own 53.17% of the company’s stock.

About Docebo

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.