nCino (NASDAQ:NCNO) Price Target Raised to $33.00 at Keefe, Bruyette & Woods

nCino (NASDAQ:NCNO - Get Free Report) had its price objective hoisted by equities research analysts at Keefe, Bruyette & Woods from $28.00 to $33.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price points to a potential upside of 26.00% from the stock's previous close.

A number of other equities analysts also recently issued reports on NCNO. Needham & Company LLC reaffirmed a "buy" rating and set a $33.00 price objective on shares of nCino in a report on Thursday. Piper Sandler reissued a "neutral" rating and set a $28.00 price target (up from $25.00) on shares of nCino in a research report on Thursday. Barclays reaffirmed an "overweight" rating and issued a $31.00 price objective (up from $24.00) on shares of nCino in a research report on Thursday. Stephens lifted their target price on shares of nCino from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 21st. Finally, KeyCorp restated a "sector weight" rating on shares of nCino in a research note on Monday, February 3rd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, nCino presently has a consensus rating of "Hold" and an average target price of $30.80.

nCino Trading Down 0.4%

Shares of nCino stock traded down $0.11 on Thursday, reaching $26.19. 1,827,724 shares of the company's stock were exchanged, compared to its average volume of 1,879,238. The company has a market capitalization of $3.02 billion, a P/E ratio of -154.05, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. nCino has a 52 week low of $18.75 and a 52 week high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The firm's 50-day moving average is $24.41 and its two-hundred day moving average is $30.70.

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

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

Insiders Place Their Bets

In related news, insider April Rieger sold 7,881 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $164,397.66. Following the transaction, the insider now directly owns 138,072 shares in the company, valued at approximately $2,880,181.92. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sean Desmond sold 12,339 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total value of $283,797.00. Following the completion of the transaction, the chief executive officer now directly owns 637,405 shares in the company, valued at approximately $14,660,315. This represents a 1.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,060 shares of company stock worth $3,101,115 over the last 90 days. Corporate insiders own 5.70% of the company's stock.

Institutional Trading of nCino

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP boosted its holdings in shares of nCino by 171.9% during the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock worth $207,450,000 after purchasing an additional 3,905,802 shares during the period. Invesco Ltd. lifted its holdings in nCino by 3,006.0% in the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock worth $87,392,000 after buying an additional 2,518,707 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of nCino in the 4th quarter worth approximately $81,254,000. Conestoga Capital Advisors LLC bought a new stake in shares of nCino in the 4th quarter worth approximately $70,256,000. Finally, T. Rowe Price Investment Management Inc. lifted its stake in nCino by 139.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock worth $108,834,000 after acquiring an additional 1,889,283 shares during the period. 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.