nCino (NASDAQ:NCNO) Price Target Raised to $33.00

nCino (NASDAQ:NCNO - Get Free Report) had its price objective lifted by analysts at Keefe, Bruyette & Woods from $28.00 to $33.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price target points to a potential upside of 24.81% from the company's current price.

A number of other equities analysts have also recently weighed in on NCNO. Truist Financial cut shares of nCino from a "buy" rating to a "hold" rating and decreased their price objective for the company from $44.00 to $21.00 in a research report on Wednesday, April 2nd. The Goldman Sachs Group cut shares of nCino from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $42.00 to $24.00 in a research report on Wednesday, April 2nd. Stephens increased their price target 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. Raymond James reduced their price target on shares of nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $26.00 price target (up previously from $19.00) on shares of nCino in a research report on Wednesday, May 21st. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $30.80.

nCino Stock Up 0.4%

NASDAQ:NCNO traded up $0.11 on Thursday, reaching $26.44. The stock had a trading volume of 2,357,410 shares, compared to its average volume of 1,515,468. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $24.41 and a 200 day moving average of $30.77. The stock has a market cap of $3.05 billion, a P/E ratio of -155.52, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. nCino has a 12-month low of $18.75 and a 12-month high of $43.20.

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

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

Insiders Place Their Bets

In other nCino news, VP Jeanette Sellers sold 2,167 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $22.79, for a total value of $49,385.93. Following the sale, the vice president now owns 27,108 shares in the company, valued at approximately $617,791.32. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gregory Orenstein sold 12,101 shares of the firm'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 transaction of $252,426.86. Following the completion of the sale, the chief financial officer now owns 259,643 shares in the company, valued at $5,416,152.98. The trade was a 4.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 141,060 shares of company stock valued at $3,101,115 over the last quarter. Insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On nCino

Several large investors have recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its stake in shares of nCino by 16.5% in 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 period. Victory Capital Management Inc. increased its stake in shares of nCino by 2.9% during 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. Berry Wealth Group LP increased its stake in shares of nCino by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company's stock valued at $276,000 after acquiring an additional 400 shares during the period. Advisors Capital Management LLC increased its stake in shares of nCino by 0.7% during the first quarter. Advisors Capital Management LLC now owns 66,270 shares of the company's stock valued at $1,820,000 after acquiring an additional 479 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in shares of nCino by 2.2% during the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company's stock valued at $772,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds 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.