nCino Inc. (NASDAQ:NCNO) Receives Average Recommendation of "Hold" from Brokerages

nCino Inc. (NASDAQ:NCNO - Get Free Report) has been given a consensus recommendation of "Hold" by the nineteen research firms that are currently covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $30.94.

Several brokerages recently issued reports on NCNO. Keefe, Bruyette & Woods increased their price target 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. Needham & Company LLC reiterated a "buy" rating and issued a $33.00 price target on shares of nCino in a research note on Thursday, May 29th. William Blair lowered shares of nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Bank of America increased their price target on shares of nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, April 10th. Finally, 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 note on Wednesday, May 21st.

nCino Stock Down 1.0%

Shares of NASDAQ NCNO opened at $26.80 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24. nCino has a 12 month low of $18.75 and a 12 month high of $43.20. The firm has a market capitalization of $3.11 billion, a PE ratio of -103.08, a price-to-earnings-growth ratio of 27.54 and a beta of 0.76. The firm has a fifty day simple moving average of $25.03 and a two-hundred day simple moving average of $29.48.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). The business had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The firm's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. Equities analysts expect that nCino will post 0.12 earnings per share for the current year.

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

Insider Transactions at nCino

In other news, insider April Rieger sold 7,881 shares of nCino 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 completion of the sale, the insider now directly owns 138,072 shares in the company, valued at $2,880,181.92. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sean Desmond sold 12,339 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $23.00, for a total transaction 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. The trade was a 1.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,060 shares of company stock worth $3,101,115 over the last three months. 5.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On nCino

Institutional investors and hedge funds have recently made changes to their positions in the business. Johnson Financial Group Inc. purchased a new position in shares of nCino in the fourth quarter worth approximately $57,000. Covestor Ltd boosted its holdings in shares of nCino by 27.6% in the first quarter. Covestor Ltd now owns 2,388 shares of the company's stock worth $66,000 after buying an additional 517 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings 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 worth $78,000 after buying an additional 323 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of nCino by 22.5% in the first quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock worth $80,000 after buying an additional 538 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of nCino in the first quarter worth approximately $82,000. Hedge funds and other 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.

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