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

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

Institutional Trading of Docebo

A number of large investors have recently modified their holdings of the stock. Intact Investment Management Inc. purchased a new stake in shares of Docebo during the third quarter worth $3,319,000. Rice Hall James & Associates LLC purchased a new stake in shares of Docebo during the third quarter worth $3,907,000. Riverwater Partners LLC purchased a new stake in shares of Docebo during the third quarter worth $200,000. Essex Investment Management Co. LLC increased its position in shares of Docebo by 35.8% during the third quarter. Essex Investment Management Co. LLC now owns 81,176 shares of the company’s stock worth $3,588,000 after acquiring an additional 21,407 shares during the period. Finally, Pathway Financial Advisors LLC purchased a new stake in shares of Docebo during the third quarter worth $221,000. Hedge funds and other institutional investors own 53.17% of the company’s stock.

Docebo Trading Down 1.7 %

NASDAQ:DCBO traded down $0.79 during trading hours on Thursday, reaching $45.44. 33,116 shares of the stock were exchanged, compared to its average volume of 89,529. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average of $44.06 and a two-hundred day moving average of $41.08. Docebo has a twelve month low of $33.81 and a twelve month high of $56.41. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 85.61 and a beta of 1.55.

Docebo (NASDAQ:DCBO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.19 EPS 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 firm had revenue of $53.05 million for the quarter, compared to analyst estimates of $52.30 million. On average, equities analysts predict that Docebo will post 0.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DCBO shares. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target (up previously from $45.00) on shares of Docebo in a research note on Thursday, September 12th. Scotiabank boosted their target price on Docebo from $50.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 24th. Finally, CIBC boosted their target price on Docebo from $44.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

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.