Docebo price target lowered to $52 from $60 at Stifel

Stifel lowered the firm’s price target on Docebo (DCBO) to $52 from $60 and keeps a Buy rating on the shares. Docebo’s lighter-than-expected FY25 guidance suggests “incremental conservatism” around the timing of sales pipeline conversion given current macro and tariff “noise” and a peak renewal cycle in Q1, the analyst tells investors. However, sustaining underlying momentum with new record pipeline generation and new product attach-rates supports the firm’s thesis for Docebo’s “competitive differentiation and growing enterprise penetration,” the analyst added.