Docebo (NASDAQ:DCBO) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Docebo (NASDAQ:DCBO) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other analysts also recently weighed in on the company. Zacks Research upgraded Docebo from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. National Bank Financial raised their target price on shares of Docebo from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Docebo from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 target price on shares of Docebo in a research note on Friday, July 17th. Finally, ATB Cormark Capital Markets lowered their price target on shares of Docebo from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Docebo presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.18.

Docebo Trading Down 1.9%

NASDAQ DCBO opened at $27.59 on Friday. Docebo has a 1-year low of $14.39 and a 1-year high of $28.89. The stock has a 50-day moving average of $24.22 and a 200-day moving average of $20.32. The firm has a market cap of $691.13 million, a PE ratio of 24.20 and a beta of 1.22.

Docebo (NASDAQ:DCBO) last issued its earnings results on Friday, August 7th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. Docebo had a return on equity of 120.29% and a net margin of 12.98%. The company had revenue of $63.80 million during the quarter, compared to analysts’ expectations of $67.14 million. As a group, equities research analysts forecast that Docebo will post 1.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Docebo

A number of large investors have recently modified their holdings of DCBO. Arrowstreet Capital Limited Partnership boosted its position in shares of Docebo by 16.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 615,587 shares of the company’s stock worth $10,775,000 after purchasing an additional 86,038 shares in the last quarter. NewGen Asset Management Ltd purchased a new stake in shares of Docebo in the 1st quarter worth approximately $1,558,000. Sei Investments Co. grew its stake in shares of Docebo by 211.7% in the 1st quarter. Sei Investments Co. now owns 56,034 shares of the company’s stock worth $979,000 after buying an additional 38,058 shares during the last quarter. K2 Principal Fund L.P. purchased a new stake in shares of Docebo in the 2nd quarter worth approximately $303,000. Finally, Engineers Gate Manager LP increased its position in Docebo by 25.4% during the 2nd quarter. Engineers Gate Manager LP now owns 61,170 shares of the company’s stock valued at $1,094,000 after buying an additional 12,400 shares in the last quarter. Institutional investors own 53.17% of the company’s stock.

About Docebo

Docebo Inc develops cloud-based learning management software for businesses and other organizations. Its platform is designed to help companies create, manage and deliver employee, customer, partner and member education through online learning programs.

The Docebo Learning Platform includes tools for course administration, content creation and management, assessments, reporting, automation and artificial intelligence. It also supports extended-enterprise learning, enabling organizations to provide training to audiences outside their workforce.