nCino, Inc. (NASDAQ:NCNO) Given Average Rating of “Moderate Buy” by Brokerages

nCino, Inc. (NASDAQ:NCNO) has received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $38.82.

Several equities research analysts have recently commented on NCNO shares. Macquarie restated an “outperform” rating and set a $40.00 price target on shares of nCino in a research note on Wednesday, October 23rd. JMP Securities restated a “market outperform” rating and set a $43.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Truist Financial reaffirmed a “buy” rating and issued a $44.00 target price (up previously from $37.00) on shares of nCino in a report on Monday, October 21st. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. Finally, Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research report on Tuesday, September 3rd.

nCino Trading Up 6.9 %

NASDAQ NCNO opened at $40.15 on Thursday. The firm’s fifty day moving average is $32.76 and its two-hundred day moving average is $31.99. nCino has a one year low of $27.47 and a one year high of $40.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $4.64 billion, a PE ratio of -148.70, a P/E/G ratio of 30.53 and a beta of 0.55.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The firm had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts expect that nCino will post 0.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction on Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the transaction, the director now directly owns 226,201 shares of the company’s stock, valued at approximately $8,482,537.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Jeff Horing sold 1,833,975 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50. Following the sale, the director now directly owns 12,513,467 shares in the company, valued at $458,243,161.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the transaction, the director now owns 226,201 shares of the company’s stock, valued at $8,482,537.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,035,584 shares of company stock worth $144,146,625 in the last quarter. Company insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

Several hedge funds have recently bought and sold shares of the stock. Crewe Advisors LLC purchased a new stake in nCino during the 2nd quarter worth about $26,000. Asset Management One Co. Ltd. boosted its stake in shares of nCino by 21.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after purchasing an additional 341 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of nCino by 97.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after buying an additional 1,358 shares in the last quarter. Covestor Ltd raised its position in shares of nCino by 29.6% in the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after buying an additional 625 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in shares of nCino by 28.1% during the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock valued at $163,000 after buying an additional 1,134 shares during the period. Hedge funds and other institutional investors 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.