Needham & Company LLC Reaffirms “Buy” Rating for Docebo (NASDAQ:DCBO)

Docebo (NASDAQ:DCBO)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $31.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 54.72% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Zacks Research downgraded Docebo from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Wall Street Zen downgraded shares of Docebo from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings upgraded shares of Docebo from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, July 8th. National Bank Financial lowered their target price on shares of Docebo from $24.00 to $21.00 and set a “sector perform” rating for the company in a report on Wednesday, May 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price target on shares of Docebo in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.67.

Docebo Trading Up 8.1%

Shares of Docebo stock traded up $1.50 during trading hours on Friday, reaching $20.04. 150,355 shares of the company’s stock were exchanged, compared to its average volume of 169,305. Docebo has a 52-week low of $14.39 and a 52-week high of $33.42. The company has a fifty day moving average of $17.85 and a 200-day moving average of $18.51. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $503.71 million, a price-to-earnings ratio of 17.38 and a beta of 1.27.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership boosted its holdings in Docebo by 16.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 615,587 shares of the company’s stock worth $10,775,000 after acquiring an additional 86,038 shares during the period. CIBC Asset Management Inc lifted its position in shares of Docebo by 3.8% during the second quarter. CIBC Asset Management Inc now owns 445,517 shares of the company’s stock worth $12,915,000 after purchasing an additional 16,432 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Docebo by 1.2% during the fourth quarter. Wellington Management Group LLP now owns 437,595 shares of the company’s stock worth $9,715,000 after purchasing an additional 5,169 shares in the last quarter. FIL Ltd boosted its stake in shares of Docebo by 16.1% in the fourth quarter. FIL Ltd now owns 255,518 shares of the company’s stock valued at $5,676,000 after purchasing an additional 35,445 shares during the period. Finally, Millennium Management LLC grew its holdings in Docebo by 137.2% during 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 in the last quarter. 53.17% of the stock is owned by hedge funds and other 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.