Yes. Sphagnum is usually used to refer to the live or dried moss, while sphagnum peat or simply peat is the brown soil-like product that forms when the sphagnum sinks to the bottom of a bog and partially decomposes. Peat is very similar to coco bedding(Eco-Earth, etc.) and can be used in the same manner.
sphagnum peat moss has much smaller particles, which can be very dusty when dry, it also does not wet out easy, its almost hydrophobic, and needs to be soaked. I use it for my plants, but would not use it for my geckos. Straight sphagnum moss should be find it does not resemble the peat moss at all. My only concern in usuing it was for how it would work for egg laying. I like using fine coir or eco earth, and just paper towels for the non layers.