nCino (NASDAQ:NCNO) Given New $26.00 Price Target at Bank of America

nCino (NASDAQ:NCNO - Get Free Report) had its price target raised by equities researchers at Bank of America from $22.00 to $26.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Bank of America's price target indicates a potential upside of 8.56% from the company's current price.

NCNO has been the subject of several other reports. Stephens reissued an "equal weight" rating and issued a $38.00 price objective on shares of nCino in a research report on Wednesday, April 2nd. William Blair downgraded nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Barclays reduced their price objective on nCino from $44.00 to $24.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Scotiabank restated a "sector perform" rating and issued a $19.00 target price (down previously from $35.00) on shares of nCino in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group cut shares of nCino from a "buy" rating to a "neutral" rating and cut their price objective for the company from $42.00 to $24.00 in a report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, nCino presently has an average rating of "Hold" and a consensus price target of $30.60.

nCino Price Performance

NASDAQ NCNO traded up $0.29 on Thursday, reaching $23.95. The company had a trading volume of 611,545 shares, compared to its average volume of 1,365,755. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $2.79 billion, a PE ratio of -140.87, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. nCino has a 12 month low of $18.75 and a 12 month high of $43.20. The firm's 50 day moving average price is $28.89 and its 200 day moving average price is $33.59.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.06). The business had revenue of $141.37 million during the quarter, compared to analysts' expectations of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 earnings per share. As a group, equities analysts predict that nCino will post 0.12 earnings per share for the current year.

nCino announced that its board has authorized a stock buyback plan on Tuesday, April 1st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Transactions at nCino

In related news, insider April Rieger sold 7,881 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,397.66. Following the transaction, the insider now owns 138,072 shares of the company's stock, valued at $2,880,181.92. This trade represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sean Desmond sold 5,034 shares of nCino stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the completion of the sale, the chief executive officer now directly owns 306,477 shares in the company, valued at approximately $9,991,150.20. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,012 shares of company stock worth $2,694,676. Insiders own 28.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new stake in nCino during the fourth quarter valued at about $34,000. Hilltop National Bank bought a new position in nCino during the 4th quarter valued at $37,000. Johnson Financial Group Inc. bought a new position in nCino during the 4th quarter worth approximately $57,000. Asset Management One Co. Ltd. increased its stake in nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after purchasing an additional 323 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of nCino by 32.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock valued at $152,000 after buying an additional 1,122 shares during the period. 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.