Docebo price target lowered to $32 from $35 at Scotiabank

Scotiabank lowered the firm’s price target on Docebo (DCBO) to $32 from $35 and keeps an Outperform rating on the shares. The company’s preliminary Q4 results indicate an “impressive” core ARR performance, the analyst tells investors. While the firm anticipates a period of margin digestion, Scotiabank sees the signs of underlying strength and the stock’s attractive valuation as a compelling entry point.