Baird R W Upgrades nCino (NASDAQ:NCNO) to Strong-Buy

nCino (NASDAQ:NCNO - Get Free Report) was upgraded by analysts at Baird R W from a "hold" rating to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Several other research firms also recently issued reports on NCNO. JMP Securities boosted their price objective on shares of nCino from $32.00 to $35.00 and gave the stock a "market outperform" rating in a research note on Monday, June 9th. Raymond James Financial decreased their target price on shares of nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Piper Sandler reissued a "neutral" rating and issued a $28.00 price target (up from $25.00) on shares of nCino in a research report on Thursday, May 29th. JPMorgan Chase & Co. assumed coverage on shares of nCino in a research note on Wednesday, June 18th. They issued a "neutral" rating and a $30.00 price objective on the stock. Finally, Robert W. Baird raised nCino from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $30.00 to $38.00 in a report on Monday. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, nCino currently has an average rating of "Moderate Buy" and an average target price of $30.69.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $29.81 on Monday. The company's fifty day moving average price is $26.49 and its 200 day moving average price is $28.43. nCino has a 12 month low of $18.75 and a 12 month high of $43.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $3.46 billion, a P/E ratio of -114.65, a P/E/G ratio of 29.62 and a beta of 0.77.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $144.14 million for the quarter, compared to the consensus estimate of $139.77 million. nCino had a negative net margin of 5.27% and a positive return on equity of 0.19%. The business's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. As a group, sell-side analysts predict that nCino will post 0.12 earnings per share for the current fiscal year.

nCino announced that its board has initiated a stock repurchase program on Tuesday, April 1st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at nCino

In related news, Director Pierre Naude sold 30,745 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $23.00, for a total value of $707,135.00. Following the completion of the sale, the director directly owned 1,197,120 shares of the company's stock, valued at $27,533,760. The trade was a 2.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider April Rieger sold 6,589 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total value of $151,547.00. Following the completion of the transaction, the insider directly owned 243,551 shares in the company, valued at $5,601,673. This represents a 2.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,049 shares of company stock valued at $1,449,672 in the last ninety days. Company insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On nCino

Several institutional investors have recently added to or reduced their stakes in NCNO. Charles Schwab Investment Management Inc. increased its position in shares of nCino by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 566,627 shares of the company's stock worth $19,027,000 after buying an additional 9,870 shares during the period. Victory Capital Management Inc. boosted its position in shares of nCino by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock valued at $407,000 after acquiring an additional 340 shares during the period. PNC Financial Services Group Inc. lifted its position in nCino by 32.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock valued at $152,000 after purchasing an additional 1,122 shares during the last quarter. Amundi lifted its holdings in shares of nCino by 312.1% in the 4th quarter. Amundi now owns 6,004 shares of the company's stock worth $201,000 after acquiring an additional 4,547 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of nCino by 4.2% in the fourth quarter. HighTower Advisors LLC now owns 17,620 shares of the company's stock worth $592,000 after buying an additional 714 shares during the period. 94.76% of the stock is owned by 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.

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