nCino (NASDAQ:NCNO) Price Target Raised to $27.00 at Morgan Stanley

nCino (NASDAQ:NCNO) had its price objective raised by Morgan Stanley from $23.00 to $27.00 in a report published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also commented on NCNO. Bank of America upped their price objective on shares of nCino from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, April 10th. Truist Financial cut shares of nCino from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $44.00 to $21.00 in a research report on Wednesday, April 2nd. Raymond James cut their price target on nCino from $42.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. The Goldman Sachs Group lowered shares of nCino from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $42.00 to $24.00 in a research note on Wednesday, April 2nd. Finally, Stephens boosted their target price on nCino from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.80.

nCino Price Performance

NASDAQ NCNO opened at $26.26 on Friday. The stock’s 50-day moving average is $24.63 and its two-hundred day moving average is $31.37. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The firm has a market cap of $3.03 billion, a P/E ratio of -154.46, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71.

nCino (NASDAQ:NCNO) last announced its earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The firm had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. During the same quarter last year, the business earned $0.21 EPS. The business’s revenue was up 14.3% compared to the same quarter last year. On average, analysts anticipate that nCino will post 0.12 earnings per share for the current fiscal year.

nCino announced that its board has initiated a share repurchase plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at nCino

In other nCino news, CEO Sean Desmond sold 12,339 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $23.00, for a total value of $283,797.00. Following the sale, the chief executive officer now owns 637,405 shares in the company, valued at $14,660,315. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Pierre Naude sold 31,123 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $649,225.78. Following the sale, the director now directly owns 1,066,090 shares of the company’s stock, valued at $22,238,637.40. This represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,060 shares of company stock valued at $3,101,115. 5.70% of the stock is owned by insiders.

Institutional Investors Weigh In On nCino

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp bought a new position in nCino in the 4th quarter valued at about $34,000. Johnson Financial Group Inc. acquired a new stake in shares of nCino during the 4th quarter worth approximately $57,000. Asset Management One Co. Ltd. increased its stake in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after acquiring an additional 323 shares during the last quarter. Covestor Ltd raised its position in nCino by 27.6% during the first quarter. Covestor Ltd now owns 2,388 shares of the company’s stock valued at $66,000 after purchasing an additional 517 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in nCino by 22.5% during the first quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company’s stock valued at $80,000 after purchasing an additional 538 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

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.