Docebo Inc. (NASDAQ:DCBO – Get Free Report)’s stock price dropped 6.7% during trading on Monday . The stock traded as low as $19.53 and last traded at $19.7730. Approximately 60,913 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 194,125 shares. The stock had previously closed at $21.20.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on DCBO shares. Wall Street Zen lowered Docebo from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings lowered Docebo from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. Stifel Nicolaus reduced their price target on Docebo from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Docebo in a research note on Thursday, January 29th. Finally, Zacks Research raised shares of Docebo from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.92.
Check Out Our Latest Analysis on Docebo
Docebo Stock Down 9.3%
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in DCBO. Topline Capital Management LLC increased its holdings in Docebo by 484.9% in the 3rd quarter. Topline Capital Management LLC now owns 323,219 shares of the company’s stock worth $8,834,000 after acquiring an additional 267,962 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in Docebo during the third quarter valued at $823,000. Essex Investment Management Co. LLC lifted its holdings in Docebo by 48.3% during the third quarter. Essex Investment Management Co. LLC now owns 103,346 shares of the company’s stock valued at $2,824,000 after purchasing an additional 33,651 shares in the last quarter. Renaissance Group LLC acquired a new stake in shares of Docebo in the third quarter valued at about $1,071,000. Finally, Claret Asset Management Corp acquired a new stake in shares of Docebo in the third quarter valued at about $957,000. 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.
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