Docebo (NASDAQ:DCBO) Stock Price Down 6.3% – Here’s What Happened

Docebo Inc. (NASDAQ:DCBO)’s stock price was down 6.3% on Friday . The company traded as low as $42.04 and last traded at $42.45. Approximately 12,119 shares were traded during trading, a decline of 63% from the average daily volume of 32,833 shares. The stock had previously closed at $45.29.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Atb Cap Markets lowered shares of Docebo from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Scotiabank boosted their target price on Docebo from $50.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 24th. CIBC increased their price target on Docebo from $44.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Craig Hallum boosted their price objective on Docebo from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Needham & Company LLC raised their target price on shares of Docebo from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Docebo presently has a consensus rating of “Moderate Buy” and an average price target of $57.36.

Docebo Price Performance

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $48.08 and its two-hundred day moving average price is $43.73. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 76.00 and a beta of 1.55.

Institutional Investors Weigh In On Docebo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Plato Investment Management Ltd acquired a new stake in shares of Docebo in the 3rd quarter valued at $35,000. Barclays PLC acquired a new stake in shares of Docebo in the third quarter worth about $142,000. Riverwater Partners LLC acquired a new position in shares of Docebo during the 3rd quarter valued at about $200,000. Point72 Asset Management L.P. bought a new position in shares of Docebo in the 2nd quarter valued at approximately $189,000. Finally, Pathway Financial Advisors LLC acquired a new stake in Docebo in the 3rd quarter worth approximately $221,000. 53.17% of the stock is owned by hedge funds and other institutional investors.

About Docebo

Docebo Inc operates as a learning management software company that provides artificial intelligence (AI)-powered learning platform in North America and internationally. It offers Learning Management System (LMS) to train internal and external workforces, partners, and customers. The company's cloud platform consists of a learning suite, which includes Docebo Learn LMS, a cloud-based learning platform that allows learning administrators to deliver personalized learning; Docebo Shape, an AI-based learning content creation tool, which enables learning administrators to turn internal and external resources into engaging, multilingual, and microlearning content to share across the business; Docebo Content that allows off-the-shelf learning content by partnering content specialist; Docebo Learning Impact, a learning measurement tool that enables administrators to prove and improve training programs; Docebo Learn Data, which gives a comprehensive view on learning data to business results; Docebo Connect that connects Docebo to custom tech stack and making integrations; and Docebo Flow that allows businesses to directly inject learning into the flow of work.