Scotiabank Forecasts Strong Price Appreciation for Docebo (NASDAQ:DCBO) Stock

Docebo (NASDAQ:DCBO) had its target price increased by equities research analysts at Scotiabank from $25.00 to $35.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank‘s price target points to a potential upside of 9.04% from the company’s previous close.

DCBO has been the subject of a number of other reports. Canaccord Genuity Group upped their price target on shares of Docebo from $36.00 to $41.50 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus raised their price objective on shares of Docebo from $28.00 to $36.00 and gave the company a “buy” rating in a research note on Monday. Zacks Research upgraded shares of Docebo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. National Bank Financial boosted their target price on Docebo from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, Weiss Ratings upgraded Docebo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Docebo has an average rating of “Moderate Buy” and an average target price of $36.25.

Docebo Trading Up 2.9%

DCBO traded up $0.92 on Tuesday, reaching $32.10. The company had a trading volume of 23,178 shares, compared to its average volume of 129,957. The company has a fifty day moving average of $26.20 and a 200-day moving average of $20.75. The company has a market capitalization of $801.81 million, a P/E ratio of 24.68 and a beta of 1.18. Docebo has a one year low of $14.39 and a one year high of $32.00.

Docebo (NASDAQ:DCBO) last released its earnings results on Friday, November 6th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. Docebo had a net margin of 12.98% and a return on equity of 120.29%. The firm had revenue of $70.33 million for the quarter, compared to analysts’ expectations of $68.47 million. Research analysts predict that Docebo will post 1.45 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DCBO. TD Waterhouse Canada Inc. raised its holdings in Docebo by 4.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 44,535 shares of the company’s stock worth $981,000 after buying an additional 1,894 shares during the period. Allworth Financial LP purchased a new stake in Docebo during the second quarter valued at about $52,000. NewEdge Advisors LLC boosted its holdings in shares of Docebo by 1,101.5% in the first quarter. NewEdge Advisors LLC now owns 3,977 shares of the company’s stock worth $69,000 after buying an additional 3,646 shares during the period. Turtle Creek Asset Management Inc. boosted its holdings in shares of Docebo by 38.6% in the first quarter. Turtle Creek Asset Management Inc. now owns 21,200 shares of the company’s stock worth $370,000 after buying an additional 5,900 shares during the period. Finally, State of Wyoming acquired a new position in shares of Docebo in the second quarter worth about $137,000. 53.17% of the stock is owned by institutional investors and hedge funds.

Docebo News Summary

Here are the key news stories impacting Docebo this week:

• Positive Sentiment: Analysts raised price targets. Stifel Nicolaus raised its target to $36 and kept a Buy rating; Canaccord Genuity lifted its target to $41.50 and kept Buy; and ATB Cormark raised its target to $49 with an Outperform rating. A separate report said Docebo’s target was raised to $42. Stifel Nicolaus recommendations Canaccord Genuity recommendations ATB Cormark target report Docebo price target report
• Positive Sentiment: Technical momentum improved. Docebo moved above its 20-day moving average, a short-term bullish signal that may attract momentum-focused investors. Zacks article on Docebo’s moving average
• Neutral Sentiment: National Bank Financial made a smaller adjustment. It raised its target from $31 to $32 but maintained a Sector Perform rating, signaling a more measured view than the other recent analyst updates. National Bank Financial recommendations

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.