nCino, Inc. (NASDAQ:NCNO) Receives Average Recommendation of “Moderate Buy” from Brokerages

nCino, Inc. (NASDAQ:NCNO) has earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $38.18.

A number of research analysts recently weighed in on the company. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a report on Tuesday, September 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of nCino in a research note on Wednesday, August 28th. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $42.00 in a research report on Wednesday, August 14th. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Finally, Macquarie reissued an “outperform” rating and issued a $40.00 price objective on shares of nCino in a research report on Wednesday, August 28th.

Insider Activity at nCino

In other nCino news, Director Jeff Horing sold 126,641 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $31.01, for a total value of $3,927,137.41. Following the transaction, the director now owns 19,386,826 shares in the company, valued at $601,185,474.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other nCino news, Director Jeff Horing sold 126,641 shares of nCino stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $31.01, for a total transaction of $3,927,137.41. Following the sale, the director now directly owns 19,386,826 shares in the company, valued at $601,185,474.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider April Rieger sold 8,856 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $31.23, for a total value of $276,572.88. Following the completion of the transaction, the insider now directly owns 165,791 shares in the company, valued at approximately $5,177,652.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,290,312 shares of company stock valued at $75,977,898. Corporate insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NCNO. Nomura Holdings Inc. bought a new position in shares of nCino during the fourth quarter worth about $211,000. Norden Group LLC grew its position in shares of nCino by 2,388.5% in the 1st quarter. Norden Group LLC now owns 454,665 shares of the company’s stock worth $16,995,000 after acquiring an additional 436,394 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in shares of nCino in the 1st quarter valued at approximately $52,000. Principal Financial Group Inc. acquired a new stake in shares of nCino during the 1st quarter valued at approximately $220,000. Finally, SpiderRock Advisors LLC bought a new position in nCino during the first quarter worth $751,000. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Trading Up 3.1 %

NASDAQ NCNO opened at $34.51 on Friday. The company has a 50-day moving average of $31.43 and a 200-day moving average of $31.57. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. nCino has a 12 month low of $27.13 and a 12 month high of $37.48. The company has a market cap of $3.99 billion, a P/E ratio of -127.81, a P/E/G ratio of 26.59 and a beta of 0.59.

nCino (NASDAQ:NCNO) last posted its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The company had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. During the same quarter last year, the firm posted ($0.02) earnings per share. nCino’s revenue was up 13.0% on a year-over-year basis. As a group, equities analysts predict that nCino will post 0.05 earnings per share for the current year.

About nCino

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.