Docebo price target lowered to $45 from $55 at Scotiabank

Scotiabank lowered the firm’s price target on Docebo (DCBO) to $45 from $55 and keeps an Outperform rating on the shares. The company experienced a greater than expected deceleration in subscription growth in 2025, which may be due to high level of contract renewals, macro headwinds, and deal cycle pressure, the analyst tells investors. While the firm maintains its rating on the stock, Scotiabank believes the shares could trade rangebound int he near-term ahead of a stronger 2H.