Docebo price target raised to $62 from $58 at Craig-Hallum

Craig-Hallum analyst George Sutton raised the firm’s price target on Docebo (DCBO) to $62 from $58 and keeps a Buy rating on the shares. The firm notes the past two quarters have been well executed and the stock has performed as it should in response. Management has guided the focus towards the mid-to-large commercial and SLED markets, which carry longer deal cycles, but also bring deal size ranges that are in the $300K-$1M range, up from those in the $100K-300K range, Craig-Hallum adds. At the same time, the company is seeing “beautiful outcomes” in the SLED part of the government market, with a successful Deloitte partnership helping drive that.