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

Docebo Inc. (NASDAQ:DCBO)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $18.52, but opened at $20.04. Docebo shares last traded at $19.6860, with a volume of 158,983 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Docebo from $34.00 to $28.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. Zacks Research cut Docebo from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Wall Street Zen raised Docebo from a “hold” rating to a “buy” rating in a research report on Monday, January 26th. CIBC cut their target price on Docebo from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $25.00 price target on shares of Docebo in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Docebo currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Docebo Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a 50-day moving average price of $21.14 and a 200-day moving average price of $25.86. The company has a market capitalization of $565.17 million, a price-to-earnings ratio of 26.57 and a beta of 1.45.

Institutional Investors Weigh In On Docebo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Employees Retirement System of Texas bought a new position in shares of Docebo during the second quarter valued at $44,000. TD Waterhouse Canada Inc. grew its holdings in Docebo by 39.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 6,380 shares of the company’s stock worth $172,000 after acquiring an additional 1,805 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Docebo by 46.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,063 shares of the company’s stock worth $193,000 after purchasing an additional 2,248 shares during the period. Centiva Capital LP acquired a new stake in shares of Docebo during the 3rd quarter worth approximately $204,000. Finally, Boothbay Fund Management LLC acquired a new stake in Docebo in the third quarter worth $291,000. 53.17% of the stock is currently owned by institutional investors.

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.