nCino, Inc. (NASDAQ:NCNO) Receives Consensus Recommendation of "Hold" from Analysts

Shares of nCino, Inc. (NASDAQ:NCNO - Get Free Report) have received an average rating of "Hold" from the seventeen analysts that are covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $30.40.

A number of research analysts have commented on the company. Barclays decreased their price target on nCino from $44.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Bank of America lifted their target price on nCino from $22.00 to $26.00 and gave the company a "neutral" rating in a research report on Thursday, April 10th. The Goldman Sachs Group lowered shares of nCino from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $42.00 to $24.00 in a research note on Wednesday, April 2nd. UBS Group set a $40.00 target price on shares of nCino in a research note on Friday, March 28th. Finally, KeyCorp reissued a "sector weight" rating on shares of nCino in a research report on Monday, February 3rd.

Insiders Place Their Bets

In other nCino news, CFO Gregory Orenstein sold 2,356 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $22.31, for a total transaction of $52,562.36. Following the completion of the sale, the chief financial officer now directly owns 329,735 shares of the company's stock, valued at approximately $7,356,387.85. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider April Rieger sold 7,881 shares of the business'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 value of $164,397.66. Following the completion of the transaction, the insider now directly owns 138,072 shares in the company, valued at approximately $2,880,181.92. The trade was a 5.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,012 shares of company stock valued at $2,694,676 over the last quarter. Company insiders own 28.40% of the company's stock.

Institutional Trading of nCino

Several hedge funds and other institutional investors have recently made changes to their positions in NCNO. Wasatch Advisors LP increased its stake in nCino by 171.9% in the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock valued at $207,450,000 after purchasing an additional 3,905,802 shares in the last quarter. Invesco Ltd. raised its stake in shares of nCino by 3,006.0% during the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock worth $87,392,000 after buying an additional 2,518,707 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of nCino during the 4th quarter worth $81,254,000. Conestoga Capital Advisors LLC purchased a new stake in shares of nCino in the 4th quarter worth about $70,256,000. Finally, T. Rowe Price Investment Management Inc. grew its stake in nCino by 139.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock valued at $108,834,000 after acquiring an additional 1,889,283 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

nCino Trading Up 0.4 %

NCNO traded up $0.09 during trading hours on Thursday, reaching $22.96. The company's stock had a trading volume of 1,629,521 shares, compared to its average volume of 1,406,224. The stock has a market cap of $2.67 billion, a PE ratio of -135.05, a P/E/G ratio of 5.77 and a beta of 0.69. nCino has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The business's 50-day moving average is $26.19 and its 200-day moving average is $32.71.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings results 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). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The business had revenue of $141.37 million for the quarter, compared to analysts' expectations of $140.81 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that nCino will post 0.12 earnings per share for the current fiscal year.

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

nCino Company Profile

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.