Docebo Inc. (NASDAQ:DCBO – Get Free Report) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 143,100 shares, a drop of 31.6% from the January 15th total of 209,100 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 91,900 shares, the short-interest ratio is currently 1.6 days.
Hedge Funds Weigh In On Docebo
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Docebo during the second quarter valued at $23,313,000. CIBC Asset Management Inc boosted its holdings in shares of Docebo by 54.1% during the second quarter. CIBC Asset Management Inc now owns 376,274 shares of the company’s stock valued at $14,905,000 after acquiring an additional 132,111 shares during the period. National Bank of Canada FI boosted its holdings in shares of Docebo by 291.7% during the fourth quarter. National Bank of Canada FI now owns 373,582 shares of the company’s stock valued at $16,811,000 after acquiring an additional 278,201 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Docebo by 37.4% during the third quarter. The Manufacturers Life Insurance Company now owns 281,222 shares of the company’s stock valued at $11,485,000 after acquiring an additional 76,533 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Docebo by 157.5% during the third quarter. American Century Companies Inc. now owns 252,247 shares of the company’s stock valued at $10,229,000 after acquiring an additional 154,281 shares during the period. Institutional investors and hedge funds own 45.96% of the company’s stock.
Analyst Upgrades and Downgrades
DCBO has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on shares of Docebo from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, November 10th. National Bankshares raised their target price on shares of Docebo from $50.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, November 10th. CIBC raised their target price on shares of Docebo from $49.81 to $58.00 and gave the company an “outperform” rating in a report on Thursday, January 11th. Canaccord Genuity Group raised their target price on shares of Docebo from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 10th. Finally, TD Securities lifted their price target on shares of Docebo from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Docebo currently has an average rating of “Moderate Buy” and an average target price of $54.60.
Docebo Stock Down 1.6 %
DCBO stock opened at $45.47 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.03 and a quick ratio of 2.03. Docebo has a 1-year low of $29.40 and a 1-year high of $52.88. The firm has a fifty day moving average price of $46.51 and a two-hundred day moving average price of $43.38. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 1,137.03 and a beta of 1.59.
Docebo Inc operates as a learning management software company that provides artificial intelligence (AI)-powered learning platform in North America, Europe, and the Asia-Pacific region. 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; and Docebo Content that provides off-the-shelf learning content by partnering content specialist.
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