Barclays Forecasts Strong Price Appreciation for nCino (NASDAQ:NCNO) Stock

nCino (NASDAQ:NCNO) had its price objective raised by Barclays from $34.00 to $44.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 6.02% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research report on Tuesday, September 3rd. Truist Financial reaffirmed a “buy” rating and set a $44.00 target price (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. JMP Securities restated a “market outperform” rating and issued a $43.00 price target on shares of nCino in a research note on Wednesday, August 28th. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price target on shares of nCino in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.25.

nCino Stock Up 0.2 %

Shares of nCino stock opened at $41.50 on Monday. The company’s fifty day simple moving average is $35.70 and its two-hundred day simple moving average is $32.99. nCino has a 12-month low of $27.47 and a 12-month high of $43.20. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The company has a market cap of $4.80 billion, a P/E ratio of -153.70, a PEG ratio of 34.35 and a beta of 0.55.

nCino (NASDAQ:NCNO) last released its quarterly 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. The company had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. nCino’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) earnings per share. Research analysts anticipate that nCino will post 0.05 EPS for the current year.

Insider Activity at nCino

In related news, insider Sean Desmond sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the completion of the sale, the insider now directly owns 341,511 shares in the company, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,235,029 shares of company stock worth $117,599,204 over the last quarter. Company insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its position in nCino by 8.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock worth $244,766,000 after buying an additional 635,064 shares in the last quarter. Vanguard Group Inc. increased its holdings in nCino by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock worth $266,247,000 after acquiring an additional 148,390 shares in the last quarter. Long Path Partners LP increased its holdings in nCino by 43.7% in the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock worth $117,559,000 after acquiring an additional 1,131,271 shares in the last quarter. ShawSpring Partners LLC raised its stake in nCino by 115.9% during the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after acquiring an additional 1,424,349 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in nCino by 65.1% during the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock valued at $66,341,000 after purchasing an additional 828,124 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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.