Short Interest in Docebo Inc. (NASDAQ:DCBO) Drops By 33.4%

Docebo Inc. (NASDAQ:DCBO) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 64,800 shares, a decline of 33.4% from the November 30th total of 97,300 shares. Based on an average daily volume of 59,900 shares, the short-interest ratio is currently 1.1 days. Currently, 0.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DCBO. Atb Cap Markets downgraded shares of Docebo from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Needham & Company LLC raised their price objective on shares of Docebo from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. CIBC upped their target price on Docebo from $44.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Scotiabank increased their target price on Docebo from $50.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 24th. Finally, Craig Hallum lifted their price target on Docebo from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Docebo currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.36.

Institutional Trading of Docebo

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can grew its holdings in shares of Docebo by 23.1% during the 2nd quarter. Bank of Montreal Can now owns 371,690 shares of the company’s stock valued at $14,198,000 after purchasing an additional 69,787 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Docebo in the 3rd quarter valued at $3,907,000. Renaissance Technologies LLC grew its position in Docebo by 15.1% during the 2nd quarter. Renaissance Technologies LLC now owns 118,800 shares of the company’s stock worth $4,589,000 after acquiring an additional 15,600 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Docebo by 7.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 236,825 shares of the company’s stock worth $10,449,000 after purchasing an additional 15,800 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new position in Docebo in the third quarter valued at about $3,319,000. 53.17% of the stock is currently owned by institutional investors.

Docebo Price Performance

Docebo stock opened at $45.65 on Monday. The firm has a market cap of $1.38 billion, a PE ratio of 78.71 and a beta of 1.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s fifty day moving average price is $48.20 and its two-hundred day moving average price is $43.52. Docebo has a one year low of $33.81 and a one year high of $56.41.

Docebo Company Profile

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.