Morgan Stanley Cuts Docebo (NASDAQ:DCBO) Price Target to $28.00

Docebo (NASDAQ:DCBO) had its target price lowered by Morgan Stanley from $34.00 to $28.00 in a report released on Monday morning, Marketbeat reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research analysts also recently issued reports on DCBO. Wall Street Zen upgraded Docebo from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Zacks Research lowered shares of Docebo from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. CIBC decreased their price objective on shares of Docebo from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Docebo in a research note on Wednesday, October 8th. Finally, Oppenheimer began coverage on shares of Docebo in a research report on Wednesday, November 5th. They set an “outperform” rating and a $35.00 target price for the company. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Docebo Price Performance

Shares of NASDAQ DCBO opened at $23.55 on Monday. The company has a market capitalization of $676.71 million, a PE ratio of 31.82 and a beta of 1.44. The company has a quick ratio of 1.04, a current ratio of 1.13 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $27.62 and its 200-day moving average price is $28.60. Docebo has a twelve month low of $22.79 and a twelve month high of $51.19.

Institutional Trading of Docebo

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rice Hall James & Associates LLC lifted its stake in shares of Docebo by 30.6% during the 1st quarter. Rice Hall James & Associates LLC now owns 143,949 shares of the company’s stock valued at $4,133,000 after buying an additional 33,759 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of Docebo by 83.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 14,272 shares of the company’s stock worth $410,000 after acquiring an additional 6,489 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Docebo by 18.2% during the first quarter. Mackenzie Financial Corp now owns 381,156 shares of the company’s stock worth $10,962,000 after acquiring an additional 58,702 shares in the last quarter. Alberta Investment Management Corp boosted its holdings in shares of Docebo by 19.8% in the first quarter. Alberta Investment Management Corp now owns 68,634 shares of the company’s stock worth $1,974,000 after acquiring an additional 11,355 shares during the period. Finally, Cumberland Partners Ltd grew its position in shares of Docebo by 33.3% in the first quarter. Cumberland Partners Ltd now owns 63,600 shares of the company’s stock valued at $1,829,000 after purchasing an additional 15,900 shares in the last quarter. Institutional investors 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.