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

Docebo Inc. (NASDAQ:DCBO) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 94,400 shares, a growth of 65.3% from the February 28th total of 57,100 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily volume of 79,200 shares, the days-to-cover ratio is currently 1.2 days.

Wall Street Analysts Forecast Growth

DCBO has been the subject of several recent research reports. Scotiabank decreased their price objective on Docebo from $55.00 to $45.00 and set a “sector outperform” rating for the company in a research note on Tuesday, March 4th. Atb Cap Markets upgraded shares of Docebo from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Morgan Stanley set a $43.00 price objective on shares of Docebo in a report on Friday, February 28th. Finally, UBS Group set a $45.00 price target on Docebo in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Docebo presently has an average rating of “Buy” and an average target price of $53.18.

Docebo Stock Performance

Shares of DCBO stock traded down $1.65 during trading hours on Friday, hitting $29.29. The stock had a trading volume of 55,959 shares, compared to its average volume of 83,186. 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 firm has a market capitalization of $886.73 million, a PE ratio of 50.50 and a beta of 1.60. The stock’s 50 day moving average is $36.96 and its 200 day moving average is $42.96. Docebo has a twelve month low of $27.61 and a twelve month high of $53.86.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DCBO. Quantbot Technologies LP acquired a new stake in shares of Docebo during the fourth quarter worth about $132,000. Tower Research Capital LLC TRC lifted its position in Docebo by 46.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,983 shares of the company’s stock worth $134,000 after acquiring an additional 949 shares during the period. Barclays PLC purchased a new position in shares of Docebo in the 3rd quarter valued at approximately $142,000. Deutsche Bank AG acquired a new position in shares of Docebo in the fourth quarter valued at approximately $242,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Docebo during the fourth quarter worth approximately $255,000. 53.17% of the stock is owned by hedge funds and other institutional investors.

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.