Analysts Set nCino, Inc. (NASDAQ:NCNO) Target Price at $35.64

Shares of nCino, Inc. (NASDAQ:NCNO) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $35.64.

Several research firms have issued reports on NCNO. Stephens restated an “equal weight” rating and issued a $35.00 price objective on shares of nCino in a research note on Thursday, May 30th. Keefe, Bruyette & Woods began coverage on shares of nCino in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 price objective for the company. William Blair reiterated an “outperform” rating on shares of nCino in a research note on Wednesday, June 26th. Morgan Stanley increased their target price on shares of nCino from $27.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. Finally, Piper Sandler reiterated an “overweight” rating and set a $38.00 target price on shares of nCino in a research note on Monday, July 1st.

Insider Activity at nCino

In related news, VP Jeanette Sellers sold 1,143 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total value of $34,461.45. Following the completion of the sale, the vice president now owns 26,217 shares in the company, valued at $790,442.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other nCino news, VP Jeanette Sellers sold 1,143 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total value of $34,461.45. Following the completion of the transaction, the vice president now directly owns 26,217 shares of the company’s stock, valued at $790,442.55. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Insight Holdings Group, Llc sold 195,292 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $31.60, for a total transaction of $6,171,227.20. Following the completion of the transaction, the director now directly owns 2,057,578 shares of the company’s stock, valued at $65,019,464.80. The disclosure for this sale can be found here. Insiders sold a total of 2,398,544 shares of company stock worth $75,533,549 over the last 90 days. Company insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. First Bank & Trust increased its stake in shares of nCino by 4.1% during the 4th quarter. First Bank & Trust now owns 9,970 shares of the company’s stock worth $335,000 after purchasing an additional 395 shares in the last quarter. Covestor Ltd boosted its position in 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 during the last quarter. Parkwood LLC boosted its position in nCino by 6.7% during the fourth quarter. Parkwood LLC now owns 10,400 shares of the company’s stock worth $350,000 after acquiring an additional 655 shares during the last quarter. Mesirow Institutional Investment Management Inc. boosted its position in nCino by 6.1% during the first 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. Finally, Oppenheimer Asset Management Inc. boosted its position in nCino by 8.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 10,084 shares of the company’s stock worth $377,000 after acquiring an additional 800 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Stock Performance

NASDAQ:NCNO opened at $31.12 on Friday. The firm has a market capitalization of $3.58 billion, a PE ratio of -100.38, a price-to-earnings-growth ratio of 17.19 and a beta of 0.59. The business’s fifty day moving average price is $31.02 and its 200 day moving average price is $31.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.07 and a quick ratio of 1.07. nCino has a 12 month low of $27.13 and a 12 month high of $37.48.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Wednesday, May 29th. The company reported $0.05 earnings per share (EPS) for the quarter. nCino had a negative net margin of 6.94% and a positive return on equity of 1.13%. The company had revenue of $128.09 million during the quarter, compared to the consensus estimate of $126.59 million. On average, sell-side analysts anticipate that nCino will post 0.08 earnings per share for the current fiscal year.

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.