nCino Inc. (NASDAQ:NCNO) Given Average Rating of "Hold" by Analysts

Shares of nCino Inc. (NASDAQ:NCNO - Get Free Report) have been given a consensus recommendation of "Hold" by the nineteen brokerages that are currently covering the stock, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $30.94.

A number of equities analysts recently commented on NCNO shares. Citigroup reaffirmed an "outperform" rating on shares of nCino in a research note on Monday, June 9th. Keefe, Bruyette & Woods boosted their price objective on shares of nCino from $28.00 to $33.00 and gave the stock an "outperform" rating in a research note on Thursday, May 29th. JMP Securities upped their price target on shares of nCino from $32.00 to $35.00 and gave the company a "market outperform" rating in a research note on Monday, June 9th. Morgan Stanley upped their price target on shares of nCino from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Finally, Raymond James Financial dropped their price objective on shares of nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd.

Insider Buying and Selling at nCino

In other nCino news, insider April Rieger sold 6,589 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total value of $151,547.00. Following the completion of the sale, the insider now owns 243,551 shares of the company's stock, valued at $5,601,673. This trade represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean Desmond sold 7,880 shares of the 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 $164,376.80. Following the completion of the sale, the chief executive officer now directly owns 298,597 shares of the company's stock, valued at $6,228,733.42. This trade represents a 2.57% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 141,060 shares of company stock worth $3,101,115. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On nCino

A number of hedge funds have recently added to or reduced their stakes in NCNO. Johnson Financial Group Inc. acquired a new position in nCino in the fourth quarter worth $57,000. Covestor Ltd boosted its holdings in shares of nCino by 27.6% during the first quarter. Covestor Ltd now owns 2,388 shares of the company's stock valued at $66,000 after acquiring an additional 517 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of 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 acquiring an additional 323 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of nCino by 22.5% during the first quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock valued at $80,000 after acquiring an additional 538 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of nCino during the first quarter valued at $82,000. Institutional investors and hedge funds own 94.76% of the company's stock.

nCino Trading Up 0.3%

NCNO stock traded up $0.08 during trading on Friday, reaching $26.53. The company had a trading volume of 1,096,234 shares, compared to its average volume of 1,531,546. nCino has a 52 week low of $18.75 and a 52 week high of $43.20. The company has a market cap of $3.08 billion, a P/E ratio of -102.04, a PEG ratio of 27.18 and a beta of 0.76. The business has a 50 day moving average of $25.14 and a 200 day moving average of $29.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.05 and a quick ratio of 1.05.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. The firm had revenue of $144.14 million for the quarter, compared to analysts' expectations of $139.77 million. nCino had a negative net margin of 5.27% and a positive return on equity of 0.19%. The business's revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 earnings per share. As a group, sell-side analysts forecast that nCino will post 0.12 earnings per share for the current fiscal year.

nCino announced that its Board of Directors has approved a share buyback plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its shares are undervalued.

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.