The Globe and Mail reports in its Friday edition that Stifel analyst Suthan Sukumar has an unchanged "buy" call on Docebo. The Globe's David Leeder writes that Mr. Sukumar gave his share target a $10 (U.S.) kick forward to $60 (U.S.). Analysts on average target the shares at $51 (U.S.). The Globe reports that Mr. Sukumar finds Docebo's valuation "attractive." Mr. Sukumar says in a note: "DCBO currently trades at 6.6 times fiscal 24 estimates vs. HCM/LMS and Rule of-40 SaaS peers trading at six to 10 times. Our new target price is based on eight times F24 estimated sales, near the mid-point to reflect stronger growth rates and expanding profitability, offset by a smaller market cap and lower liquidity. We believe continued strong execution demonstrating consistency in growth and margin expansion will support a rerate in valuation closer to larger rule-of-40 SaaS peers. We see durable growth tailwinds as recent investments position the company to capture a greater share of an expanding target market as more enterprises look to drive more impactful learning, development and engagement programs at scale, internally with employees and externally with customers/ partners, with potential to generate new revenue streams."