Docebo price target lowered to $50 from $65 at Scotiabank

Scotiabank lowered the firm’s price target on Docebo to $50 from $65 and keeps an Outperform rating on the shares. Despite the firm’s “strong” Q1 results, its shares are lower following weaker than anticipated FY24 guidance, the analyst tells investors. While the firm understands the negative reaction, Scotiabank believes the stock is “oversold.”