nCino, Inc. (NASDAQ:NCNO) Receives $38.82 Average Target Price from Brokerages

Shares of nCino, Inc. (NASDAQ:NCNO) have earned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $38.82.

Several brokerages recently weighed in on NCNO. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research report on Tuesday, September 3rd. Needham & Company LLC cut their target price on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Truist Financial reissued a “buy” rating and issued a $44.00 price target (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price objective on shares of nCino in a report on Wednesday, August 28th. Finally, William Blair reiterated an “outperform” rating on shares of nCino in a report on Wednesday, August 28th.

nCino Stock Down 2.0 %

Shares of NASDAQ:NCNO opened at $41.49 on Thursday. The firm has a market cap of $4.79 billion, a P/E ratio of -153.66, a PEG ratio of 35.10 and a beta of 0.55. nCino has a 52-week low of $27.47 and a 52-week high of $43.20. The business’s 50 day simple moving average is $34.18 and its two-hundred day simple moving average is $32.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $131.06 million. During the same period last year, the business earned ($0.02) EPS. nCino’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, research analysts forecast that nCino will post 0.05 EPS for the current fiscal year.

Insider Buying and Selling

In other nCino news, Director William J. Ruh sold 10,000 shares of the firm’s 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 of the company’s stock, valued at $8,482,537.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Jeff Horing sold 1,833,975 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50. Following the sale, the director now owns 12,513,467 shares of the company’s stock, valued at $458,243,161.54. The trade was 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 the SEC website. Also, Director William J. Ruh sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was 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 directly owns 226,201 shares of the company’s stock, valued at approximately $8,482,537.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,235,582 shares of company stock valued at $117,618,559. 28.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On nCino

Several institutional investors have recently made changes to their positions in NCNO. Crewe Advisors LLC bought a new stake in shares of nCino during the 2nd quarter valued at $26,000. Asset Management One Co. Ltd. increased its position in shares of nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after buying an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of nCino by 97.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after buying an additional 1,358 shares in the last quarter. Covestor Ltd boosted its position in shares of 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. Finally, West Tower Group LLC purchased a new position in nCino during the third quarter valued at approximately $126,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.