Docebo price target lowered to $55 from $65 at Canaccord

Canaccord lowered the firm’s price target on Docebo to $55 from $65 and keeps a Buy rating on the shares. The firm noted the shares fell on Q1 results ahead of expectations and with strong enterprise but a lacklustre 2024 revenue growth outlook. Canaccord said with the baseline for growth reset lower and the company clearly motivated to expand margins, Docebo appears well positioned to outpace expectations through the reminder of F2024.