Docebo Inc. (NASDAQ:DCBO) Sees Significant Decrease in Short Interest

Docebo Inc. (NASDAQ:DCBO) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 175,200 shares, a decrease of 5.8% from the September 30th total of 186,000 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 65,000 shares, the days-to-cover ratio is currently 2.7 days.

Docebo Stock Up 4.9 %

Shares of NASDAQ DCBO traded up $2.23 during midday trading on Friday, reaching $47.89. 24,198 shares of the company’s stock were exchanged, compared to its average volume of 89,337. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.11 and a current ratio of 1.11. Docebo has a 52-week low of $33.81 and a 52-week high of $56.41. The business’s fifty day moving average price is $44.11 and its two-hundred day moving average price is $41.11. The stock has a market capitalization of $1.45 billion, a PE ratio of 84.56 and a beta of 1.55.

Docebo (NASDAQ:DCBO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Docebo had a return on equity of 29.82% and a net margin of 8.56%. The company had revenue of $53.05 million for the quarter, compared to analyst estimates of $52.30 million. Analysts forecast that Docebo will post 0.79 EPS for the current year.

Analysts Set New Price Targets

DCBO has been the subject of several recent research reports. CIBC raised their price target on Docebo from $44.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective (up previously from $45.00) on shares of Docebo in a research note on Thursday, September 12th. Finally, Scotiabank boosted their target price on shares of Docebo from $50.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Hedge Funds Weigh In On Docebo

Several hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. acquired a new position in shares of Docebo in the 4th quarter worth $48,000. Point72 Asset Management L.P. acquired a new position in shares of Docebo in the 2nd quarter valued at $189,000. Riverwater Partners LLC purchased a new position in Docebo in the 3rd quarter worth about $200,000. Pathway Financial Advisors LLC acquired a new stake in Docebo during the 3rd quarter worth about $221,000. Finally, XTX Topco Ltd acquired a new stake in Docebo during the 2nd quarter worth about $264,000. 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.