Docebo Inc. (NASDAQ:DCBO) Sees Large Increase in Short Interest

Docebo Inc. (NASDAQ:DCBO) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 127,400 shares, a growth of 35.0% from the March 15th total of 94,400 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average trading volume of 86,600 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

DCBO has been the subject of a number of research reports. Atb Cap Markets upgraded Docebo from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. UBS Group set a $45.00 target price on Docebo in a research report on Tuesday, March 4th. Scotiabank lowered their price objective on shares of Docebo from $55.00 to $45.00 and set a “sector outperform” rating on the stock in a report on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and set a $42.00 target price on shares of Docebo in a report on Thursday, April 10th. Finally, Morgan Stanley lowered their price target on shares of Docebo from $43.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $51.36.

Hedge Funds Weigh In On Docebo

A number of institutional investors have recently bought and sold shares of DCBO. Louisbourg Investments Inc. boosted its stake in shares of Docebo by 110.3% during the 1st quarter. Louisbourg Investments Inc. now owns 76,672 shares of the company’s stock worth $2,207,000 after acquiring an additional 40,207 shares during the period. Mackenzie Financial Corp raised its position in shares of Docebo by 4,534.3% in the fourth quarter. Mackenzie Financial Corp now owns 322,454 shares of the company’s stock valued at $14,444,000 after purchasing an additional 315,496 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Docebo by 21.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 25,363 shares of the company’s stock valued at $1,137,000 after purchasing an additional 4,506 shares during the period. State of Wyoming acquired a new stake in shares of Docebo during the 4th quarter worth about $275,000. Finally, Man Group plc bought a new stake in shares of Docebo during the 4th quarter worth about $1,768,000. Institutional investors and hedge funds own 53.17% of the company’s stock.

Docebo Stock Performance

Shares of Docebo stock traded up $0.02 during trading on Friday, hitting $29.18. 59,096 shares of the stock were exchanged, compared to its average volume of 85,372. Docebo has a 1-year low of $26.00 and a 1-year high of $53.86. The stock has a market capitalization of $883.40 million, a price-to-earnings ratio of 50.31 and a beta of 1.59. The company has a fifty day moving average price of $32.38 and a 200-day moving average price of $41.21. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.01.

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.