nCino (NASDAQ:NCNO) Earns Outperform Rating from Macquarie

nCino (NASDAQ:NCNO)‘s stock had its “outperform” rating reaffirmed by Macquarie in a research note issued on Wednesday, Benzinga reports. They presently have a $40.00 price objective on the stock. Macquarie’s price target would suggest a potential upside of 4.58% from the company’s previous close.

NCNO has been the topic of a number of other research reports. William Blair restated an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Stephens reissued an “equal weight” rating and issued a $35.00 target price on shares of nCino in a report on Wednesday, August 28th. 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. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $42.00 in a research report on Wednesday, August 14th. Finally, JMP Securities reissued a “market outperform” rating and issued a $43.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, nCino has an average rating of “Moderate Buy” and an average target price of $38.82.

nCino Stock Up 1.9 %

NCNO opened at $38.25 on Wednesday. The stock’s fifty day simple moving average is $32.16 and its 200 day simple moving average is $31.62. nCino has a 1-year low of $27.27 and a 1-year high of $38.33. The stock has a market cap of $4.40 billion, a PE ratio of -123.39, a price-to-earnings-growth ratio of 26.59 and a beta of 0.59. 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 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 company had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, research 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 the stock in a transaction 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 completion of the sale, the director now directly owns 226,201 shares in the company, valued at $8,482,537.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other nCino news, Director William J. Ruh sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were 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 owns 226,201 shares in the company, valued at approximately $8,482,537.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Insight Holdings Group, Llc sold 16,882 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $33.11, for a total transaction of $558,963.02. Following the completion of the sale, the director now directly owns 1,381,929 shares in the company, valued at approximately $45,755,669.19. 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 4,102,466 shares of company stock worth $146,370,589 in the last ninety days. Company insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NCNO. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of nCino by 3.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock worth $459,000 after purchasing an additional 508 shares in the last quarter. First Bank & Trust grew its holdings in shares of nCino by 5.7% during the second quarter. First Bank & Trust now owns 10,188 shares of the company’s stock valued at $320,000 after buying an additional 546 shares during the last quarter. Precision Wealth Strategies LLC increased its position in shares of nCino by 4.5% during the third quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock worth $428,000 after acquiring an additional 589 shares in the last quarter. Covestor Ltd increased its position 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 acquiring an additional 625 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. raised its holdings 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 worth $464,000 after acquiring an additional 719 shares during the last quarter. 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.