nCino (NASDAQ:NCNO) Price Target Raised to $44.00

nCino (NASDAQ:NCNO) had its price target upped by Barclays from $34.00 to $44.00 in a research report report published on Monday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other analysts have also recently commented on NCNO. Piper Sandler restated an “overweight” rating and issued a $38.00 target price on shares of nCino in a research report on Wednesday, August 28th. Truist Financial restated a “buy” rating and set a $44.00 price objective (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Needham & Company LLC decreased their target price on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and raised their target price for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, nCino has a consensus rating of “Moderate Buy” and an average target price of $39.25.

nCino Stock Down 0.9 %

nCino stock opened at $41.88 on Monday. The firm has a market capitalization of $4.84 billion, a P/E ratio of -155.22, a P/E/G ratio of 35.00 and a beta of 0.55. The company has a 50-day simple moving average of $36.20 and a 200-day simple moving average of $33.15. nCino has a one year low of $27.47 and a one year high of $43.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. nCino’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.02) earnings per share. As a group, equities analysts expect that nCino will post 0.05 earnings per share for the current year.

Insider Activity

In other nCino news, Director William J. Ruh sold 10,000 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the sale, the director now owns 226,201 shares in the company, valued at approximately $8,482,537.50. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at $9,705,064.60. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,235,029 shares of company stock worth $117,599,204. Insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Large investors have recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its position in 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 in the last quarter. Malaga Cove Capital LLC grew its holdings in shares of nCino by 3.0% during the third quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock valued at $430,000 after buying an additional 400 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in nCino by 3.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock valued at $459,000 after buying an additional 508 shares during the period. First Bank & Trust lifted its stake in nCino by 5.7% in the 2nd quarter. First Bank & Trust now owns 10,188 shares of the company’s stock worth $320,000 after acquiring an additional 546 shares in the last quarter. Finally, Precision Wealth Strategies LLC boosted its position in nCino by 4.5% during the 3rd quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock worth $428,000 after acquiring an additional 589 shares during the period. 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.