Docebo (NASDAQ:DCBO) Trading Down 9.6% – Here’s What Happened

Docebo Inc. (NASDAQ:DCBO)’s share price dropped 9.6% during mid-day trading on Thursday . The stock traded as low as $20.33 and last traded at $20.3510. Approximately 259,515 shares were traded during trading, an increase of 14% from the average daily volume of 228,071 shares. The stock had previously closed at $22.51.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DCBO shares. Craig Hallum restated a “buy” rating and issued a $38.00 price objective on shares of Docebo in a report on Monday, March 2nd. National Bank Financial reduced their target price on shares of Docebo from $31.00 to $24.00 and set a “sector perform” rating for the company in a research note on Thursday, January 22nd. Morgan Stanley decreased their target price on shares of Docebo from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Monday, March 2nd. Scotiabank cut their price target on shares of Docebo from $32.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. Finally, Oppenheimer restated an “outperform” rating and set a $25.00 price target on shares of Docebo in a report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.92.

Docebo Price Performance

The stock has a 50 day moving average of $19.20 and a two-hundred day moving average of $23.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $546.73 million, a P/E ratio of 14.97 and a beta of 1.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Long Path Partners LP grew its stake in shares of Docebo by 30.5% in the second quarter. Long Path Partners LP now owns 1,176,750 shares of the company’s stock worth $34,055,000 after acquiring an additional 275,176 shares during the last quarter. Topline Capital Management LLC raised its stake in Docebo by 484.9% during the 3rd quarter. Topline Capital Management LLC now owns 323,219 shares of the company’s stock valued at $8,834,000 after purchasing an additional 267,962 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new stake in Docebo in the 2nd quarter valued at $7,189,000. Wellington Management Group LLP boosted its holdings in Docebo by 45.1% in the 3rd quarter. Wellington Management Group LLP now owns 432,426 shares of the company’s stock valued at $11,818,000 after purchasing an additional 134,437 shares during the period. Finally, Royal Bank of Canada grew its position in Docebo by 467.1% in the 1st quarter. Royal Bank of Canada now owns 158,340 shares of the company’s stock worth $4,546,000 after purchasing an additional 130,419 shares during the last quarter. 53.17% of the stock is currently owned by institutional investors and hedge funds.

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.