Morgan Stanley Cuts Docebo (NASDAQ:DCBO) Price Target to $41.00

Docebo (NASDAQ:DCBO) had its price objective decreased by equities research analysts at Morgan Stanley from $43.00 to $41.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 38.37% from the stock’s previous close.

Several other brokerages have also recently issued reports on DCBO. Atb Cap Markets raised Docebo from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. UBS Group set a $45.00 price target on shares of Docebo in a report on Tuesday, March 4th. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price target on shares of Docebo in a research report on Thursday, April 10th. Finally, Scotiabank cut their price target on shares of Docebo from $55.00 to $45.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $51.36.

Docebo Price Performance

NASDAQ DCBO traded up $0.23 during trading hours on Wednesday, reaching $29.63. The company’s stock had a trading volume of 13,246 shares, compared to its average volume of 85,042. The company has a market capitalization of $897.02 million, a price-to-earnings ratio of 51.09 and a beta of 1.59. The firm’s 50-day moving average price is $33.17 and its 200-day moving average price is $41.51. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.01. Docebo has a 1 year low of $26.00 and a 1 year high of $53.86.

Hedge Funds Weigh In On Docebo

Several hedge funds have recently made changes to their positions in DCBO. Hillsdale Investment Management Inc. increased its stake in Docebo by 207.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 611,085 shares of the company’s stock valued at $27,372,000 after buying an additional 412,403 shares during the period. Artisan Partners Limited Partnership bought a new stake in shares of Docebo in the 4th quarter worth about $17,163,000. Mackenzie Financial Corp raised its holdings in shares of Docebo by 4,534.3% in the fourth quarter. Mackenzie Financial Corp now owns 322,454 shares of the company’s stock valued at $14,444,000 after buying an additional 315,496 shares during the last quarter. TFJ Management LLC bought a new stake in shares of Docebo during the fourth quarter worth $12,138,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Docebo by 44.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 435,548 shares of the company’s stock valued at $19,504,000 after acquiring an additional 134,867 shares during the last quarter. Institutional investors and hedge funds own 53.17% of the company’s stock.

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.