Morgan Stanley downgraded Docebo (DCBO) to Equal Weight from Overweight with a price target of $32, down from $41. The firm says its prior investment thesis was predicated on stabilizing subscription revenue growth and a path toward acceleration, stemming from Docebo’s progress up market. However, it has seen consistent deceleration in the company’s trends and customer downsizing, even before potential new macro headwinds. Docebo’s growth trajectory is unclear following a “disappointing” Q1 update, contends Morgan Stanley.
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Read More on DCBO:
- Docebo downgraded to Sector Perform from Outperform at ATB Capital
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- Docebo, Inc. Earnings Call: Growth Amidst Challenges
- Docebo downgraded to Sector Perform from Outperform at National Bank
- Buy Rating Maintained for Docebo Amid Macroeconomic Challenges and Growth Catalysts
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