nCino, Inc. (NASDAQ:NCNO) Receives $30.80 Average Target Price from Brokerages

nCino, Inc. (NASDAQ:NCNO - Get Free Report) has received an average rating of "Hold" from the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $31.00.

Several research firms recently weighed in on NCNO. JMP Securities restated a "market outperform" rating and issued a $32.00 price objective on shares of nCino in a research report on Tuesday. Stephens raised their price objective on shares of nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. KeyCorp reaffirmed a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. William Blair cut nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Finally, Truist Financial raised their price target on nCino from $21.00 to $27.00 and gave the company a "hold" rating in a research report on Thursday.

Insider Activity

In related news, insider April Rieger sold 6,589 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 243,551 shares of the company's stock, valued at $5,601,673. This represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gregory Orenstein sold 12,101 shares of the firm'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 $252,426.86. Following the completion of the sale, the chief financial officer now owns 259,643 shares of the company's stock, valued at $5,416,152.98. This trade represents a 4.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,060 shares of company stock valued at $3,101,115. Company insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

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

nCino Price Performance

nCino stock traded up $0.11 during midday trading on Monday, reaching $26.89. 2,276,658 shares of the stock were exchanged, compared to its average volume of 1,512,538. nCino has a 52 week low of $18.75 and a 52 week 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 firm has a market cap of $3.10 billion, a PE ratio of -157.43, a PEG ratio of 5.77 and a beta of 0.71. The company's fifty day moving average is $24.52 and its 200-day moving average is $31.06.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $140.81 million. During the same quarter last year, the business posted $0.21 EPS. The company's quarterly revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts forecast that nCino will post 0.12 EPS for the current year.

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