Analyst Ryan MacDonald of Needham reiterated a Buy rating on Docebo (DCBO – Research Report), with a price target of $56.00.
Ryan MacDonald has given his Buy rating to Docebo’s stock due to a combination of factors. Firstly, he perceives the planned succession, which will see company founder and CEO, Claudio Erba, transitioning to the role of Chief Innovation Officer, as a positive move. MacDonald believes that despite stepping down as CEO, Erba will continue to play a vital role in the company’s day-to-day activities.
Secondly, MacDonald is confident in Alessio Artuffo, the current President and COO, who is set to take up the Interim CEO position. He views this as a natural progression that will not disrupt the ongoing success of the business. Despite the CEO transition, MacDonald’s discussions with the management team have reassured him of the company’s consistent trajectory, leading him to maintain his Buy rating on Docebo’s stock.
In another report released on November 10, Scotiabank also maintained a Buy rating on the stock with a $50.00 price target.
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Docebo (DCBO) Company Description:
Docebo Inc offers cloud-based learning platform for both internal and external enterprise learning with real time tracking of training results, optimizing time, and reducing costs associated with traditional learning methods. Geographically, it holds presence in five offices around the world, including locations in Europe, Asia and North America.
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