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

Docebo Inc. (NASDAQ:DCBO) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 134,300 shares, a decline of 6.7% from the March 15th total of 143,900 shares. Based on an average daily trading volume, of 95,800 shares, the short-interest ratio is currently 1.4 days. Currently, 0.9% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. acquired a new stake in shares of Docebo during the first quarter worth $295,000. BlackRock Inc. lifted its stake in Docebo by 46.9% in the first quarter. BlackRock Inc. now owns 233,933 shares of the company’s stock valued at $12,123,000 after buying an additional 74,702 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Docebo by 155.4% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 47,733 shares of the company’s stock worth $2,467,000 after buying an additional 29,046 shares in the last quarter. Sei Investments Co. grew its position in shares of Docebo by 9.1% during the 1st quarter. Sei Investments Co. now owns 7,350 shares of the company’s stock worth $419,000 after buying an additional 612 shares during the period. Finally, Mackenzie Financial Corp increased its stake in shares of Docebo by 51.4% in the 1st quarter. Mackenzie Financial Corp now owns 6,958 shares of the company’s stock valued at $360,000 after acquiring an additional 2,363 shares in the last quarter. Institutional investors own 53.17% of the company’s stock.

Docebo Price Performance

Docebo stock opened at $44.14 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.01. Docebo has a 12 month low of $29.40 and a 12 month high of $56.41. The stock has a 50-day moving average price of $49.13 and a two-hundred day moving average price of $46.36. The company has a market capitalization of $1.34 billion, a PE ratio of 490.44 and a beta of 1.64.

Docebo (NASDAQ:DCBO) last issued its quarterly earnings results on Friday, February 23rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.12. The company had revenue of $49.28 million during the quarter, compared to analysts’ expectations of $48.46 million. Docebo had a return on equity of 12.45% and a net margin of 1.57%. Analysts expect that Docebo will post 0.81 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on DCBO. CIBC raised their target price on shares of Docebo from $49.81 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, January 11th. Morgan Stanley boosted their target price on shares of Docebo from $63.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Eight Capital decreased their price target on shares of Docebo from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. Scotiabank upped their target price on Docebo from $60.00 to $65.00 and gave the company a “sector outperform” rating in a research note on Monday, February 26th. Finally, The Goldman Sachs Group upped their price objective on Docebo from $44.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $61.60.

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.