Docebo Poised To Deliver A Balanced Mix Of Growth & Profitability In FY24: Analyst
Portfolio Pulse from Lekha Gupta
Needham analyst Ryan MacDonald initiated coverage on Docebo Inc (NASDAQ:DCBO) with a Buy rating and a price target of $56. MacDonald highlights Docebo's potential to gain market share and deliver growth and profitability in FY24, citing a differentiated product suite and growth initiatives. Revenue and EPS estimates for FY23 are $180.0 million and $0.58, and for FY24 are $221.4 million and $1.09, respectively. Docebo's Q2 FY23 results exceeded expectations with a 24.8% revenue increase and an adjusted EPS of $0.14. DCBO shares rose 9.35% to $51.64.
November 14, 2023 | 8:20 pm
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Needham analyst Ryan MacDonald initiated coverage on Docebo Inc with a Buy rating and a $56 price target, citing potential for market share gains and a balance of growth and profitability in FY24.
The initiation of coverage by Needham with a Buy rating and a price target above the current trading price suggests a positive outlook for Docebo Inc, which could lead to increased investor interest and a potential rise in the stock price in the short term. The positive FY24 growth and profitability forecast, along with the recent earnings beat, further support this bullish sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100