Cantor Fitzgerald initiated coverage on Docebo (NASDAQ:DCBO) with an Overweight rating and a 12-month price target of $35, citing the company’s strong position in the evolving learning management space and significant long-term growth potential. As a result, the company’s shares rose more than 3% pre-market today.
Docebo operates an AI-first enterprise-grade learning platform designed to streamline training and development for both internal employees and external partners or customers. The system offers high levels of customization, scalability, and ease of use, addressing a wide range of use cases across customer experience, talent development, and regulatory compliance.
Analysts highlight Docebo’s ability to serve a total addressable market projected to exceed $60 billion by the end of the decade. They see the company transforming from a traditional LMS provider into a modern, AI-driven learning ecosystem. Key growth levers include expanded partnerships and increasing traction in the government sector via FedRAMP compliance.
Cantor considers Docebo’s recent share price decline of around 40% unjustified and views the current valuation as a compelling entry point for long-term investors. Depending on execution, the firm sees potential upside ranging from 20% to over 100%.