Docebo (NASDAQ:DCBO) Stock Price Up 10% – Still a Buy?

Shares of Docebo Inc. (NASDAQ:DCBO) shot up 10% during mid-day trading on Wednesday . The stock traded as high as $20.53 and last traded at $20.57. 65,038 shares were traded during trading, a decline of 70% from the average session volume of 218,408 shares. The stock had previously closed at $18.70.

Analyst Upgrades and Downgrades

DCBO has been the subject of a number of research analyst reports. Weiss Ratings cut Docebo from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, December 31st. Oppenheimer reaffirmed an “outperform” rating and set a $25.00 price target on shares of Docebo in a research report on Thursday, January 29th. Needham & Company LLC reduced their price objective on Docebo from $38.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Canaccord Genuity Group decreased their price objective on Docebo from $40.00 to $36.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Finally, UBS Group restated a “buy” rating on shares of Docebo in a research report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.92.

Docebo Trading Up 19.0%

The company has a 50 day simple moving average of $19.31 and a 200 day simple moving average of $23.45. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $639.91 million, a PE ratio of 17.53 and a beta of 1.44.

Institutional Investors Weigh In On Docebo

Several hedge funds have recently modified their holdings of the stock. Northwest & Ethical Investments L.P. purchased a new position in Docebo in the 4th quarter valued at $27,000. Employees Retirement System of Texas purchased a new position in Docebo during the 2nd quarter worth $44,000. State of Wyoming acquired a new stake in shares of Docebo in the 4th quarter worth $72,000. Deutsche Bank AG lifted its stake in shares of Docebo by 33.2% in the 4th quarter. Deutsche Bank AG now owns 3,533 shares of the company’s stock worth $78,000 after acquiring an additional 881 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of Docebo by 39.5% in the third quarter. TD Waterhouse Canada Inc. now owns 6,380 shares of the company’s stock valued at $172,000 after acquiring an additional 1,805 shares in the last quarter. 53.17% of the stock is owned by institutional investors and hedge funds.

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.