nCino (NASDAQ:NCNO) Price Target Cut to $28.00 by Analysts at Keefe, Bruyette & Woods

nCino (NASDAQ:NCNO) had its price objective dropped by equities researchers at Keefe, Bruyette & Woods from $40.00 to $28.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 30.54% from the company’s previous close.

Other analysts also recently issued research reports about the company. Barclays lowered their target price on nCino from $44.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday. Scotiabank reiterated a “sector perform” rating and set a $19.00 price objective (down previously from $35.00) on shares of nCino in a research note on Wednesday. Piper Sandler cut their price objective on nCino from $38.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday. Needham & Company LLC lowered their target price on shares of nCino from $45.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Bank of America cut shares of nCino from a “buy” rating to a “neutral” rating and set a $22.00 price target for the company. in a research note on Wednesday. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.33.

nCino Trading Down 1.2 %

NASDAQ NCNO opened at $21.45 on Thursday. nCino has a 52 week low of $18.75 and a 52 week high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The stock’s 50 day moving average price is $30.58 and its two-hundred day moving average price is $33.97. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -126.17, a PEG ratio of 5.77 and a beta of 0.69.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The business had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. As a group, analysts anticipate that nCino will post 0.12 earnings per share for the current fiscal year.

nCino announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Jeff Horing sold 54,876 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the transaction, the director now directly owns 4,458,591 shares of the company’s stock, valued at approximately $156,050,685. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider April Rieger sold 4,325 shares of nCino stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of the sale, the insider now owns 145,953 shares of the company’s stock, valued at $4,758,067.80. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,864 shares of company stock valued at $4,215,221. 28.40% of the stock is owned by insiders.

Institutional Investors Weigh In On nCino

A number of large investors have recently added to or reduced their stakes in NCNO. Charles Schwab Investment Management Inc. raised its holdings in nCino by 51.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock valued at $17,588,000 after acquiring an additional 189,283 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of nCino by 16.7% in the third quarter. The Manufacturers Life Insurance Company now owns 23,884 shares of the company’s stock worth $754,000 after purchasing an additional 3,417 shares during the period. FMR LLC raised its stake in nCino by 2.4% in the third quarter. FMR LLC now owns 1,237,227 shares of the company’s stock valued at $39,084,000 after purchasing an additional 29,501 shares in the last quarter. Glenmede Trust Co. NA bought a new stake in nCino during the third quarter worth about $485,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in nCino by 47.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,605 shares of the company’s stock worth $398,000 after buying an additional 4,063 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.