Docebo (NASDAQ:DCBO) Sees Large Volume Increase – Time to Buy?

Shares of Docebo Inc. (NASDAQ:DCBO) saw an uptick in trading volume on Friday . 445,711 shares changed hands during mid-day trading, an increase of 133% from the previous session’s volume of 191,421 shares.The stock last traded at $20.5790 and had previously closed at $19.14.

Analysts Set New Price Targets

A number of analysts recently weighed in on DCBO shares. Stifel Nicolaus reduced their price objective on shares of Docebo from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $28.00 price objective on shares of Docebo in a report on Wednesday, April 22nd. Morgan Stanley cut their price objective on shares of Docebo from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. TD Securities upgraded shares of Docebo to a “strong-buy” rating in a research note on Thursday, January 15th. Finally, Craig Hallum restated a “buy” rating and issued a $38.00 target price on shares of Docebo in a research note on Monday, March 2nd. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Docebo currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.92.

Docebo Stock Performance

The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average is $17.94 and its two-hundred day moving average is $20.52. The stock has a market cap of $531.22 million, a price-to-earnings ratio of 16.28 and a beta of 1.31.

Hedge Funds Weigh In On Docebo

Several hedge funds have recently bought and sold shares of DCBO. Topline Capital Management LLC boosted its position in Docebo by 484.9% in the 3rd quarter. Topline Capital Management LLC now owns 323,219 shares of the company’s stock valued at $8,834,000 after buying an additional 267,962 shares during the period. Envestnet Asset Management Inc. acquired a new position in Docebo in the third quarter valued at $823,000. Essex Investment Management Co. LLC increased its stake in Docebo by 48.3% in the third quarter. Essex Investment Management Co. LLC now owns 103,346 shares of the company’s stock valued at $2,824,000 after purchasing an additional 33,651 shares during the period. Renaissance Group LLC acquired a new position in Docebo in the third quarter valued at $1,071,000. Finally, Claret Asset Management Corp acquired a new position in shares of Docebo during the third quarter worth about $957,000. Institutional investors and hedge funds own 53.17% of the company’s stock.

About Docebo

Docebo is a cloud-based learning management system (LMS) provider that offers enterprise organizations a comprehensive platform for employee, customer and partner training. The company’s software is designed to streamline learning and development with features such as AI-powered content recommendations, automated learning paths and social collaboration tools. Docebo’s platform supports multiple languages and integrates with a variety of third-party applications, enabling businesses to deliver training at scale across different departments and regions.

Founded in 2005 and headquartered in Toronto, Canada, Docebo has expanded its footprint to serve customers in North America, Europe, the Middle East and the Asia Pacific region.