nCino Inc. (NASDAQ:NCNO) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• nCino has a consensus analyst rating of “Moderate Buy” from 19 brokerages, with an average 12-month price target of about $25.29.
• The company recently reported better-than-expected quarterly results, posting EPS of $0.37 versus estimates of $0.21 and revenue of $149.67 million, up 5.9% year over year.
• There has been notable insider selling and continued institutional activity, while institutional investors still own 94.76% of the stock; nCino shares last traded around $15.80.

Shares of nCino Inc. (NASDAQ:NCNO - Get Free Report) have received an average recommendation of "Moderate Buy" from the nineteen research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eleven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.2857.

Several research analysts have recently weighed in on NCNO shares. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of nCino in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of nCino from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Barclays upped their price target on shares of nCino from $21.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. upped their price target on shares of nCino from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, June 22nd. Finally, Robert W. Baird reduced their target price on shares of nCino from $34.00 to $24.00 and set an "outperform" rating for the company in a report on Tuesday, March 31st.

Insider Buying and Selling at nCino

In related news, insider April Rieger sold 9,693 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $174,667.86. Following the completion of the transaction, the insider owned 383,601 shares in the company, valued at approximately $6,912,490.02. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 35,650 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $642,413.00. Following the transaction, the director owned 1,108,473 shares of the company's stock, valued at $19,974,683.46. The trade was a 3.12% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 172,982 shares of company stock worth $3,032,059. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Senvest Management LLC boosted its holdings in nCino by 30.2% during the first quarter. Senvest Management LLC now owns 5,308,468 shares of the company's stock worth $79,521,000 after purchasing an additional 1,230,192 shares during the last quarter. Hawk Ridge Capital Management LP boosted its holdings in nCino by 625.4% during the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company's stock worth $67,138,000 after purchasing an additional 3,864,010 shares during the last quarter. Spyglass Capital Management LLC boosted its holdings in nCino by 6.0% during the first quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company's stock worth $46,217,000 after purchasing an additional 175,357 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in nCino by 25.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company's stock worth $73,357,000 after purchasing an additional 585,786 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in nCino by 475.1% during the third quarter. Bank of America Corp DE now owns 2,513,686 shares of the company's stock worth $68,146,000 after purchasing an additional 2,076,579 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

nCino Stock Up 1.1%

nCino stock opened at $15.80 on Tuesday. The stock has a market capitalization of $1.73 billion, a PE ratio of 131.67 and a beta of 0.69. nCino has a twelve month low of $13.80 and a twelve month high of $33.92. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $16.06 and a 200-day moving average of $18.56.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.16. The company had revenue of $149.67 million during the quarter, compared to analysts' expectations of $147.41 million. nCino had a net margin of 2.17% and a return on equity of 6.85%. The business's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. On average, equities research analysts anticipate that nCino will post 0.68 EPS for the current fiscal year.

nCino Company Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.

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