Docebo (NASDAQ:DCBO) Shares Down 5.4% – Time to Sell?

Shares of Docebo Inc. (NASDAQ:DCBO) traded down 5.4% during trading on Wednesday . The stock traded as low as $21.90 and last traded at $21.8060. Approximately 26,887 shares traded hands during trading, a decline of 84% from the average session volume of 163,122 shares. The stock had previously closed at $23.06.

Wall Street Analysts Forecast Growth

DCBO has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $31.00 price target on shares of Docebo in a research report on Friday, July 17th. Weiss Ratings lowered Docebo from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, July 23rd. Wall Street Zen raised Docebo from a “hold” rating to a “buy” rating in a research note on Saturday. ATB Cormark Capital Markets reduced their price target on Docebo from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, July 20th. Finally, Zacks Research cut Docebo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Docebo currently has an average rating of “Moderate Buy” and a consensus price target of $31.23.

Docebo Stock Down 4.2%

The firm has a market cap of $549.48 million, a PE ratio of 19.37 and a beta of 1.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.85 and a current ratio of 0.85. The company’s 50-day simple moving average is $18.87 and its two-hundred day simple moving average is $18.44.

Institutional Trading of Docebo

Large investors have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of Docebo by 45.1% during the 3rd quarter. Wellington Management Group LLP now owns 432,426 shares of the company’s stock worth $11,818,000 after acquiring an additional 134,437 shares during the period. Royal Bank of Canada lifted its stake in shares of Docebo by 467.1% in the 1st quarter. Royal Bank of Canada now owns 158,340 shares of the company’s stock valued at $4,546,000 after purchasing an additional 130,419 shares during the period. Millennium Management LLC lifted its stake in shares of Docebo by 137.2% in the 4th quarter. Millennium Management LLC now owns 213,444 shares of the company’s stock valued at $4,741,000 after purchasing an additional 123,473 shares during the period. Two Sigma Investments LP boosted its position in shares of Docebo by 211.3% during the third quarter. Two Sigma Investments LP now owns 160,772 shares of the company’s stock valued at $4,394,000 after purchasing an additional 109,128 shares in the last quarter. Finally, NewGen Asset Management Ltd bought a new stake in shares of Docebo during the first quarter valued at approximately $1,558,000. 53.17% of the stock is owned by institutional investors.

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.