nCino (NASDAQ:NCNO) Given New $44.00 Price Target at Barclays

nCino (NASDAQ:NCNO) had its price target raised by stock analysts at Barclays from $34.00 to $44.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 4.14% from the stock’s previous close.

A number of other research firms have also weighed in on NCNO. Stephens reiterated an “equal weight” rating and issued a $35.00 price objective on shares of nCino in a research note on Wednesday, August 28th. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Truist Financial restated a “buy” rating and set a $44.00 price target (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Piper Sandler restated an “overweight” rating and set a $38.00 price target on shares of nCino in a research report on Wednesday, August 28th. Finally, JMP Securities restated a “market outperform” rating and set a $43.00 price target on shares of nCino in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

nCino Stock Up 0.1 %

NASDAQ:NCNO opened at $42.25 on Monday. The firm has a market capitalization of $4.88 billion, a P/E ratio of -156.48, a PEG ratio of 34.35 and a beta of 0.55. nCino has a 1-year low of $27.47 and a 1-year high of $43.20. The company’s fifty day moving average price is $35.95 and its 200-day moving average price is $33.07. 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 (NASDAQ:NCNO) last released its quarterly earnings data 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. The firm had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. As a group, equities research analysts anticipate that nCino will post 0.05 EPS for the current year.

Insider Transactions at nCino

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the transaction, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at $9,705,064.60. The trade was a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the transaction, the director now directly owns 226,201 shares in the company, valued at $8,482,537.50. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,235,029 shares of company stock valued at $117,599,204. Corporate insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Institutional investors have recently made changes to their positions in the stock. Simplicity Wealth LLC acquired a new stake in shares of nCino during the second quarter valued at about $3,530,000. Select Equity Group L.P. increased its position in shares of nCino by 182.0% during the second quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after acquiring an additional 16,416 shares during the last quarter. Vanderbilt University increased its position in shares of nCino by 192.3% during the third quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after acquiring an additional 92,481 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of nCino during the third quarter valued at about $745,000. Finally, Raymond James & Associates increased its position in shares of nCino by 25.1% during the third quarter. Raymond James & Associates now owns 504,734 shares of the company’s stock valued at $15,945,000 after acquiring an additional 101,305 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

nCino Company Profile

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.