Brokerages Set nCino Inc. (NASDAQ:NCNO) Price Target at $26.07

Shares of nCino Inc. (NASDAQ:NCNO) have been given an average recommendation of “Moderate Buy” by the twenty ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, eleven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $26.0667.

A number of brokerages recently weighed in on NCNO. Citizens Jmp reduced their price target on shares of nCino from $41.00 to $32.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 1st. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Needham & Company LLC dropped their price target on shares of nCino from $38.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Truist Financial lowered their target price on shares of nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. Finally, Robert W. Baird lowered their target price on shares of nCino from $34.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st.

nCino Price Performance

nCino stock opened at $15.33 on Monday. The company has a fifty day simple moving average of $16.63 and a 200-day simple moving average of $20.88. nCino has a 12-month low of $13.80 and a 12-month high of $33.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25. The stock has a market cap of $1.67 billion, a P/E ratio of 306.60 and a beta of 0.72.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. nCino had a net margin of 0.87% and a return on equity of 4.75%. The firm had revenue of $149.67 million during the quarter, compared to analysts’ expectations of $147.41 million. During the same period in the previous year, the company earned $0.12 earnings per share. nCino’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities analysts expect that nCino will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider April Rieger sold 9,693 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $174,667.86. Following the transaction, the insider owned 383,601 shares of the company’s stock, valued at approximately $6,912,490.02. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 35,650 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $642,413.00. Following the transaction, the director directly owned 1,108,473 shares in the company, valued at $19,974,683.46. The trade was a 3.12% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 164,918 shares of company stock valued at $2,900,939. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On nCino

Several institutional investors and hedge funds have recently modified their holdings of NCNO. Bank of America Corp DE lifted its stake in shares of nCino by 475.1% during the third quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock valued at $68,146,000 after buying an additional 2,076,579 shares during the period. Millennium Management LLC raised its stake in nCino by 262.8% during the fourth quarter. Millennium Management LLC now owns 2,341,532 shares of the company’s stock worth $60,037,000 after purchasing an additional 1,696,051 shares during the period. Senvest Management LLC raised its stake in nCino by 68.6% during the fourth quarter. Senvest Management LLC now owns 4,078,276 shares of the company’s stock worth $104,567,000 after purchasing an additional 1,658,868 shares during the period. Wellington Management Group LLP purchased a new position in nCino during the third quarter worth approximately $36,962,000. Finally, Ophir Asset Management Pty Ltd purchased a new position in nCino during the fourth quarter worth approximately $33,985,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Company Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.