Docebo (NASDAQ:DCBO) Sets New 12-Month High on Better-Than-Expected Earnings

Docebo Inc. (NASDAQ:DCBO) reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $31.50 and last traded at $30.86, with a volume of 290 shares. The stock had previously closed at $30.40.

The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. Docebo had a return on equity of 120.29% and a net margin of 12.98%.

Wall Street Analyst Weigh In

DCBO has been the subject of several research analyst reports. ATB Cormark Capital Markets decreased their price objective on Docebo from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, July 20th. Oppenheimer boosted their price objective on shares of Docebo from $25.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday. National Bank Financial increased their price objective on shares of Docebo from $24.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 21st. Weiss Ratings upgraded Docebo from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen lowered Docebo from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Docebo presently has an average rating of “Moderate Buy” and a consensus target price of $31.30.

Institutional Investors Weigh In On Docebo

A number of institutional investors and hedge funds have recently modified their holdings of DCBO. TD Waterhouse Canada Inc. lifted its stake in Docebo by 4.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 44,535 shares of the company’s stock valued at $981,000 after purchasing an additional 1,894 shares during the last quarter. Engineers Gate Manager LP increased its position in Docebo by 25.4% during the second quarter. Engineers Gate Manager LP now owns 61,170 shares of the company’s stock worth $1,094,000 after buying an additional 12,400 shares during the last quarter. Allworth Financial LP acquired a new position in Docebo during the second quarter worth approximately $52,000. K2 Principal Fund L.P. bought a new stake in Docebo in the second quarter valued at approximately $303,000. Finally, State of Wyoming bought a new stake in Docebo in the second quarter valued at approximately $137,000. 53.17% of the stock is owned by institutional investors.

Docebo Stock Up 1.1%

The stock has a market cap of $767.59 million, a P/E ratio of 27.16 and a beta of 1.18. The firm has a 50 day simple moving average of $26.01 and a 200-day simple moving average of $20.63.

Docebo Company Profile

Docebo Inc develops learning management and learning technology solutions for businesses and other organizations. Its cloud-based platform is designed to help companies create, manage, deliver and measure training for employees, customers, partners and other learners.

The Docebo Learning Platform includes tools for course administration, content delivery, artificial intelligence-supported learning, reporting and analytics, and integrations with other enterprise software. The company also offers capabilities for creating and managing learning content, supporting instructor-led and virtual training, and delivering extended-enterprise education programs.

Founded in 2005 by Claudio Erba, Docebo is headquartered in Toronto, Canada, and serves organizations internationally.