Brokerages Set nCino, Inc. (NASDAQ:NCNO) Price Target at $38.18

Shares of nCino, Inc. (NASDAQ:NCNO) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $38.18.

A number of equities research analysts recently weighed in on NCNO shares. JMP Securities reissued a “market outperform” rating and set a $43.00 price target 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 boosted their price target for the company from $34.00 to $42.00 in a report on Wednesday, August 14th. Stephens reiterated an “equal weight” rating and set a $35.00 price objective on shares of nCino in a report on Wednesday, August 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 target price on shares of nCino in a report on Wednesday, August 28th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $40.00 target price on shares of nCino in a research report on Wednesday, August 28th.

nCino Stock Down 0.1 %

NCNO stock opened at $35.05 on Friday. The business’s 50-day simple moving average is $31.60 and its 200 day simple moving average is $31.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The company has a market cap of $4.03 billion, a PE ratio of -113.06, a price-to-earnings-growth ratio of 26.59 and a beta of 0.59. nCino has a twelve month low of $27.13 and a twelve month high of $37.48.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $131.06 million. During the same quarter in the prior year, the company posted ($0.02) EPS. The business’s revenue was up 13.0% on a year-over-year basis. On average, research analysts anticipate that nCino will post 0.05 earnings per share for the current year.

Insider Activity

In other nCino news, Director Jeff Horing sold 365,764 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $33.16, for a total transaction of $12,128,734.24. Following the completion of the transaction, the director now owns 18,786,478 shares of the company’s stock, valued at approximately $622,959,610.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other nCino news, Director Jeff Horing sold 365,764 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $33.16, for a total transaction of $12,128,734.24. Following the sale, the director now owns 18,786,478 shares of the company’s stock, valued at approximately $622,959,610.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Insight Holdings Group, Llc sold 16,882 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.11, for a total value of $558,963.02. Following the completion of the transaction, the director now owns 1,381,929 shares of the company’s stock, valued at $45,755,669.19. 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 quarter, insiders have sold 2,154,815 shares of company stock worth $71,774,188. Insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Hedge funds have recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in nCino in the 2nd quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of nCino during the first quarter valued at $52,000. Covestor Ltd lifted its holdings in shares of nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after purchasing an additional 625 shares during the period. Amalgamated Bank grew its stake in shares of nCino by 28.1% in the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after purchasing an additional 1,134 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in nCino by 145.6% in the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock valued at $168,000 after purchasing an additional 2,677 shares during the period. 94.76% of the stock is 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.