Docebo (NASDAQ:DCBO) Shares Gap Up – Here’s Why

Docebo Inc. (NASDAQ:DCBO) gapped up prior to trading on Friday . The stock had previously closed at $18.54, but opened at $19.40. Docebo shares last traded at $20.28, with a volume of 58,514 shares.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DCBO. Weiss Ratings raised Docebo from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, July 8th. National Bank Financial dropped their price target on Docebo from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 27th. Zacks Research cut Docebo from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Needham & Company LLC restated a “buy” rating and issued a $31.00 price objective on shares of Docebo in a research note on Wednesday, April 22nd. Finally, Wall Street Zen lowered Docebo from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Two investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

Docebo Trading Up 7.4%

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $500.71 million, a PE ratio of 17.15 and a beta of 1.27. The stock’s 50 day simple moving average is $17.85 and its two-hundred day simple moving average is $18.51.

Institutional Investors Weigh In On Docebo

Hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its stake in Docebo by 16.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 615,587 shares of the company’s stock valued at $10,775,000 after purchasing an additional 86,038 shares during the last quarter. CIBC Asset Management Inc increased its position in Docebo by 3.8% in the second quarter. CIBC Asset Management Inc now owns 445,517 shares of the company’s stock worth $12,915,000 after buying an additional 16,432 shares during the last quarter. Wellington Management Group LLP increased its position in Docebo by 1.2% in the fourth quarter. Wellington Management Group LLP now owns 437,595 shares of the company’s stock worth $9,715,000 after buying an additional 5,169 shares during the last quarter. FIL Ltd raised its stake in shares of Docebo by 16.1% in the fourth quarter. FIL Ltd now owns 255,518 shares of the company’s stock valued at $5,676,000 after buying an additional 35,445 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Docebo by 137.2% in the fourth quarter. Millennium Management LLC now owns 213,444 shares of the company’s stock valued at $4,741,000 after buying an additional 123,473 shares during the period. 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.