nCino (NASDAQ:NCNO) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research report issued on Thursday, Zacks.com reports.
According to Zacks, "nCino, Inc. is a provider of cloud-based software for financial institutions. nCino, Inc. is based in WILMINGTON, N.C. "
Other research analysts have also issued reports about the stock. Piper Sandler lifted their price objective on shares of nCino from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, December 10th. Barclays lowered their target price on shares of nCino from $92.00 to $75.00 and set an "equal weight" rating for the company in a research note on Monday, March 29th. Needham & Company LLC lowered their target price on shares of nCino from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, April 1st. They noted that the move was a valuation call. Robert W. Baird began coverage on shares of nCino in a research note on Wednesday, February 17th. They set a "neutral" rating and a $85.00 target price for the company. Finally, KeyCorp lowered their target price on shares of nCino from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Friday, January 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of "Buy" and an average target price of $86.63.
nCino stock opened at $70.61 on Thursday. nCino has a 1 year low of $57.38 and a 1 year high of $103.95. The firm's 50 day moving average price is $69.49 and its 200-day moving average price is $74.69.
nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, March 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. As a group, analysts anticipate that nCino will post -0.46 earnings per share for the current fiscal year.
In other news, insider Gregory Orenstein sold 26,500 shares of the company's stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $68.83, for a total transaction of $1,823,995.00. Following the transaction, the insider now owns 27,266 shares in the company, valued at $1,876,718.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Salesforce.Com, Inc. sold 295,000 shares of the company's stock in a transaction dated Monday, January 25th. The shares were sold at an average price of $75.73, for a total transaction of $22,340,350.00. The disclosure for this sale can be found here. Insiders sold 861,971 shares of company stock valued at $63,140,122 over the last quarter.
A number of large investors have recently modified their holdings of the stock. tru Independence LLC acquired a new position in nCino in the 4th quarter worth approximately $21,723,000. Raymond James Financial Services Advisors Inc. boosted its position in nCino by 2.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,329 shares of the company's stock worth $1,110,000 after purchasing an additional 320 shares in the last quarter. Parallel Advisors LLC boosted its position in nCino by 37.2% in the 4th quarter. Parallel Advisors LLC now owns 1,554 shares of the company's stock worth $113,000 after purchasing an additional 421 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in nCino in the 4th quarter worth approximately $126,000. Finally, Alliancebernstein L.P. boosted its position in nCino by 9.4% in the 4th quarter. Alliancebernstein L.P. now owns 8,033 shares of the company's stock worth $582,000 after purchasing an additional 690 shares in the last quarter. Institutional investors own 34.07% of the company's stock.
nCino, Inc, a software- as- a- service company, provides cloud-based software applications for financial institutions in the United States and internationally. Its operating system offers customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting solutions.
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