Docebo (TSX:DCBO) Stocks Plummet 11% After Earnings Forecast

2 min read | January 22, 2021 04:44 AM EST | By Team Kalkine Media

Docebo (TSX:DCBO) Stocks Plummet 11% After Earnings Forecast

Docebo Inc (TSX:DCBO)

Current Stock Price: C$ 62.8

Docebo Inc predicted a revenue of US$ 18.25 to $18.75 million, which would be a surge between 48 to 52 per cent year-over-year (YoY), for the fourth quarter of 2020. The annual recurring revenue (ARR) is expected to be in the range of US$ 73 and US$ 74 million in the latest quarter, which would be an increase of 55 per cent to 57 per cent YoY.

The company forecast its average contract value (ACV) to be somewhere between US$ 33,500 to US$ 33,950 for the Q4 2020 ending 31 December 2020, up from that of US$ 27,362 in Q4 2019.

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Despite a forecast of positive revenue growth for the latest quarter, Docebo Inc saw its stocks plummet by nearly 11 per cent on Thursday, the day after the preliminary financial results announcement. The stocks also record a year-to-date drop of about 24 per cent in value.

However, Docebo shares shot up by almost 17 per cent over the last three months and over 60 per cent in the last six months’ time. The scrips have also registered a growth of over 285 per cent in the last one year and of almost 362 per cent since they began trading on the TSX in December 2019.

The company has a market cap of C$ 2.04 billion and a price-to-book (P/B) ratio of 35.72, as per the data available on the TMX Group.

Docebo Inc on Wednesday also announced its plans to launch a marketed secondary public offering in the US and Canada, offering over 3.6 million shares.

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