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

Shares of nCino, Inc. (NASDAQ:NCNO - Get Free Report) have been given a consensus recommendation of "Hold" by the seventeen ratings firms that are covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $30.07.

NCNO has been the topic of a number of research analyst reports. The Goldman Sachs Group downgraded nCino from a "buy" rating to a "neutral" rating and lowered their price target for the company from $42.00 to $24.00 in a report on Wednesday, April 2nd. UBS Group set a $40.00 target price on nCino in a research report on Friday, March 28th. KeyCorp reaffirmed a "sector weight" rating on shares of nCino in a research report on Monday, February 3rd. Piper Sandler dropped their target price on nCino from $28.00 to $25.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $32.00 target price on shares of nCino in a research report on Tuesday.

nCino Stock Down 0.7%

Shares of NCNO stock traded down $0.20 on Monday, reaching $26.78. 3,296,447 shares of the company's stock traded hands, compared to its average volume of 1,506,652. nCino has a 12-month low of $18.75 and a 12-month high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $3.09 billion, a P/E ratio of -157.52, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. The business's 50 day moving average price is $24.55 and its two-hundred day moving average price is $31.09.

nCino (NASDAQ:NCNO - Get Free Report) last issued 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 negative net margin of 3.46% and a positive return on equity of 1.62%. 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 firm posted $0.21 EPS. The business's quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities analysts forecast that nCino will post 0.12 earnings per share for the current year.

nCino announced that its board has initiated a stock repurchase program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its stock is undervalued.

Insider Transactions at nCino

In other news, CEO Sean Desmond sold 7,880 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was 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 owns 298,597 shares in the company, valued at approximately $6,228,733.42. This represents a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider April Rieger sold 7,881 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 value of $164,397.66. Following the sale, the insider now owns 138,072 shares of the company's stock, 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. In the last quarter, insiders sold 141,060 shares of company stock worth $3,101,115. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of nCino

Several hedge funds have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its stake in nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after purchasing an additional 323 shares during the period. Victory Capital Management Inc. raised its holdings in nCino by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock valued at $407,000 after acquiring an additional 340 shares in the last quarter. Berry Wealth Group LP raised its holdings in nCino by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company's stock valued at $276,000 after acquiring an additional 400 shares in the last quarter. Advisors Capital Management LLC raised its holdings in nCino by 0.7% in the 1st quarter. Advisors Capital Management LLC now owns 66,270 shares of the company's stock valued at $1,820,000 after acquiring an additional 479 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in nCino by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company's stock valued at $772,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 94.76% of the company's stock.

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.