Zacks Research Downgrades Docebo (NASDAQ:DCBO) to Hold

Docebo (NASDAQ:DCBO) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

DCBO has been the topic of several other research reports. Craig Hallum reaffirmed a “buy” rating and set a $38.00 price target on shares of Docebo in a report on Monday, March 2nd. UBS Group reaffirmed a “buy” rating on shares of Docebo in a report on Monday, March 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price target on shares of Docebo in a report on Wednesday, April 22nd. Scotiabank lowered 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, Weiss Ratings downgraded shares of Docebo from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.92.

Docebo Stock Performance

DCBO opened at $17.37 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. Docebo has a 12-month low of $14.39 and a 12-month high of $33.42. The company has a market cap of $441.20 million, a price-to-earnings ratio of 14.97 and a beta of 1.31. The company’s 50 day moving average is $17.87 and its 200 day moving average is $19.54.

Institutional Investors Weigh In On Docebo

Several institutional investors and hedge funds have recently modified their holdings of the stock. Turtle Creek Asset Management Inc. raised its position in shares of Docebo by 38.6% during the first quarter. Turtle Creek Asset Management Inc. now owns 21,200 shares of the company’s stock valued at $370,000 after buying an additional 5,900 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Docebo by 74.4% during the first quarter. Lazard Asset Management LLC now owns 28,458 shares of the company’s stock valued at $498,000 after buying an additional 12,141 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Docebo by 16.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 615,587 shares of the company’s stock valued at $10,775,000 after buying an additional 86,038 shares during the last quarter. Sei Investments Co. raised its position in shares of Docebo by 211.7% during the first quarter. Sei Investments Co. now owns 56,034 shares of the company’s stock valued at $979,000 after buying an additional 38,058 shares during the last quarter. Finally, State of Wyoming raised its position in shares of Docebo by 294.5% during the first quarter. State of Wyoming now owns 12,791 shares of the company’s stock valued at $223,000 after buying an additional 9,549 shares during the last quarter. Institutional investors 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.