Canaccord Genuity Group Issues Pessimistic Forecast for Docebo (NASDAQ:DCBO) Stock Price

Docebo (NASDAQ:DCBO) had its price objective decreased by Canaccord Genuity Group from $46.00 to $40.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 110.08% from the company’s current price.

Several other research analysts also recently issued reports on DCBO. Scotiabank cut their price objective on Docebo from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Friday. Oppenheimer reissued an “outperform” rating and set a $25.00 price target on shares of Docebo in a research report on Thursday, January 29th. Morgan Stanley cut their price target on Docebo from $34.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. National Bankshares decreased their price objective on Docebo from $31.00 to $24.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 22nd. Finally, CIBC dropped their price objective on Docebo from $37.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Docebo currently has a consensus rating of “Moderate Buy” and an average target price of $33.64.

Docebo Price Performance

Shares of NASDAQ DCBO opened at $19.04 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $21.06 and its 200 day moving average price is $25.67. Docebo has a 52 week low of $18.11 and a 52 week high of $43.40. The stock has a market cap of $547.40 million, a price-to-earnings ratio of 25.73 and a beta of 1.40.

Institutional Trading of Docebo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DCBO. Public Employees Retirement System of Ohio lifted its holdings in shares of Docebo by 7.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 11,444 shares of the company’s stock worth $331,000 after acquiring an additional 783 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Docebo by 0.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 552,271 shares of the company’s stock worth $16,006,000 after purchasing an additional 1,381 shares during the last quarter. Employees Retirement System of Texas acquired a new position in Docebo during the second quarter worth approximately $44,000. TD Waterhouse Canada Inc. raised its stake in Docebo by 39.5% during the third quarter. TD Waterhouse Canada Inc. now owns 6,380 shares of the company’s stock worth $172,000 after purchasing an additional 1,805 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of Docebo by 7.9% in the 3rd quarter. National Bank of Canada FI now owns 24,937 shares of the company’s stock valued at $675,000 after purchasing an additional 1,831 shares during the last quarter. Hedge funds and other institutional investors own 53.17% of the company’s stock.

Docebo Company Profile

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.