Brokerages Set nCino, Inc. (NASDAQ:NCNO) PT at $38.00

nCino, Inc. (NASDAQ:NCNO) has been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $38.00.

Several equities research analysts have issued reports on NCNO shares. Piper Sandler reiterated an “overweight” rating and set a $38.00 target price on shares of nCino in a research report on Wednesday, August 28th. Needham & Company LLC reduced their target price on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $42.00 in a report on Wednesday, August 14th. Truist Financial reissued a “buy” rating and set a $37.00 price objective on shares of nCino in a report on Wednesday, August 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th.

nCino Stock Down 0.9 %

NCNO opened at $30.44 on Wednesday. The company has a market cap of $3.50 billion, a PE ratio of -98.42, a price-to-earnings-growth ratio of 22.77 and a beta of 0.58. The company has a 50 day moving average of $31.81 and a 200 day moving average of $31.39. nCino has a 12 month low of $27.13 and a 12 month high of $37.48. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping 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 business had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. During the same quarter in the prior year, the firm posted ($0.02) EPS. nCino’s revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts expect that nCino will post 0.06 EPS for the current year.

Insider Buying and Selling at nCino

In related news, insider April Rieger sold 8,856 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $31.23, for a total value of $276,572.88. Following the sale, the insider now directly owns 165,791 shares of the company’s stock, valued at $5,177,652.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other nCino news, insider April Rieger sold 8,856 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $31.23, for a total value of $276,572.88. Following the completion of the sale, the insider now directly owns 165,791 shares in the company, valued at $5,177,652.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff Horing sold 133,487 shares of nCino stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $31.51, for a total value of $4,206,175.37. Following the sale, the director now owns 24,879,980 shares in the company, valued at $783,968,169.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,546,130 shares of company stock worth $146,209,438. 28.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On nCino

A number of hedge funds have recently added to or reduced their stakes in NCNO. Crewe Advisors LLC purchased a new stake in nCino in the second quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. purchased a new stake in nCino during the first quarter valued at $52,000. Covestor Ltd lifted its holdings in 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 acquiring an additional 625 shares during the period. Lazard Asset Management LLC grew its stake in shares of nCino by 145.6% during the 1st 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. Finally, Advisory Services Network LLC purchased a new stake in shares of nCino during the 4th quarter valued at about $171,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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.