nCino (NASDAQ:NCNO) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of nCino (NASDAQ:NCNO) in a research note released on Monday morning, Benzinga reports. The brokerage currently has a $38.00 price target on the stock.

Several other research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods initiated coverage on nCino in a research note on Tuesday, April 9th. They set an outperform rating and a $41.00 target price for the company. Needham & Company LLC reaffirmed a buy rating and set a $42.00 target price on shares of nCino in a research note on Thursday, May 30th. Stephens reiterated an equal weight rating and issued a $35.00 price target on shares of nCino in a research report on Thursday, May 30th. William Blair reiterated an outperform rating on shares of nCino in a research report on Wednesday, June 26th. Finally, Robert W. Baird decreased their price target on nCino from $37.00 to $36.00 and set a neutral rating for the company in a research report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $35.64.

nCino Trading Down 0.6 %

NASDAQ:NCNO opened at $31.25 on Monday. nCino has a 1 year low of $27.13 and a 1 year high of $37.48. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -100.81, a PEG ratio of 17.16 and a beta of 0.59. The business has a fifty day moving average of $30.83 and a 200-day moving average of $31.56. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.07 and a current ratio of 1.07.

nCino (NASDAQ:NCNO) last announced its earnings results on Wednesday, May 29th. The company reported $0.05 earnings per share for the quarter. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. The business had revenue of $128.09 million during the quarter, compared to analysts’ expectations of $126.59 million. Equities analysts predict that nCino will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Jeanette Sellers sold 1,143 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $30.15, for a total value of $34,461.45. Following the completion of the sale, the vice president now directly owns 26,217 shares of the company’s stock, valued at approximately $790,442.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Jeanette Sellers sold 1,143 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $30.15, for a total value of $34,461.45. Following the completion of the sale, the vice president now directly owns 26,217 shares of the company’s stock, valued at approximately $790,442.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Spencer Lake sold 5,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now directly owns 7,791 shares of the company’s stock, valued at $275,022.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,291,001 shares of company stock valued at $72,225,056. Corporate insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. First Bank & Trust raised its stake in shares of nCino by 4.1% during the 4th quarter. First Bank & Trust now owns 9,970 shares of the company’s stock worth $335,000 after purchasing an additional 395 shares in the last quarter. Covestor Ltd raised its stake in shares of nCino by 29.6% during the 1st quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after purchasing an additional 625 shares in the last quarter. Parkwood LLC raised its stake in shares of nCino by 6.7% during the 4th quarter. Parkwood LLC now owns 10,400 shares of the company’s stock worth $350,000 after purchasing an additional 655 shares in the last quarter. Mesirow Institutional Investment Management Inc. raised its stake in shares of nCino by 6.1% in the 1st quarter. Mesirow Institutional Investment Management Inc. now owns 12,422 shares of the company’s stock valued at $464,000 after acquiring an additional 719 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of nCino by 8.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,084 shares of the company’s stock valued at $377,000 after acquiring an additional 800 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.