Analysts Set nCino, Inc. (NASDAQ:NCNO) Price Target at $30.33

Shares of nCino, Inc. (NASDAQ:NCNO) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are presently covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $30.33.

Several equities research analysts recently weighed in on NCNO shares. Morgan Stanley decreased their price objective on nCino from $39.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. Stephens reiterated an “equal weight” rating and issued a $38.00 target price on shares of nCino in a research note on Wednesday, April 2nd. Scotiabank restated a “sector perform” rating and set a $19.00 price target (down from $35.00) on shares of nCino in a research note on Wednesday, April 2nd. Bank of America lowered shares of nCino from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a research note on Wednesday, April 2nd. Finally, Truist Financial downgraded nCino from a “buy” rating to a “hold” rating and dropped their target price for the stock from $44.00 to $21.00 in a research report on Wednesday, April 2nd.

Insider Buying and Selling at nCino

In other news, CEO Sean Desmond sold 5,034 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $164,108.40. Following the transaction, the chief executive officer now owns 306,477 shares of the company’s stock, valued at $9,991,150.20. This represents a 1.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeanette Sellers sold 2,501 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $21.51, for a total transaction of $53,796.51. Following the sale, the vice president now owns 19,099 shares in the company, valued at approximately $410,819.49. This trade represents a 11.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,489 shares of company stock valued at $2,348,358 in the last 90 days. Corporate insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Several hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new position in shares of nCino during the 4th quarter valued at about $34,000. Hilltop National Bank bought a new position in nCino during the fourth quarter valued at approximately $37,000. Johnson Financial Group Inc. purchased a new position in shares of nCino during the fourth quarter worth approximately $57,000. Asset Management One Co. Ltd. raised its stake in shares of nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after acquiring an additional 323 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock worth $152,000 after acquiring an additional 1,122 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

nCino Trading Up 1.5 %

Shares of NCNO stock opened at $22.05 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm has a market cap of $2.57 billion, a P/E ratio of -129.70, a PEG ratio of 5.77 and a beta of 0.69. The company has a 50 day moving average of $29.84 and a 200-day moving average of $33.83. nCino has a 12-month low of $18.75 and a 12-month high of $43.20.

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

nCino declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.