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

nCino Inc. (NASDAQ:NCNO - Get Free Report) has been given an average recommendation of "Hold" by the nineteen brokerages that are covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $30.69.

Several research firms have recently issued reports on NCNO. William Blair cut shares of nCino from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. assumed coverage on shares of nCino in a report on Wednesday, June 18th. They issued a "neutral" rating and a $30.00 target price on the stock. Scotiabank reissued a "sector perform" rating and issued a $26.00 target price (up previously from $19.00) on shares of nCino in a report on Wednesday, May 21st. The Goldman Sachs Group downgraded shares of nCino from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $42.00 to $24.00 in a report on Wednesday, April 2nd. Finally, Stephens boosted their target price on shares of nCino from $24.00 to $28.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 21st.

Insider Activity at nCino

In other news, CEO Sean Desmond sold 12,339 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $283,797.00. Following the completion of the sale, the chief executive officer directly owned 637,405 shares of the company's stock, valued at approximately $14,660,315. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider April Rieger sold 6,589 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $151,547.00. Following the sale, the insider directly owned 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 disclosure for this sale can be found here. Insiders sold 63,049 shares of company stock valued at $1,449,672 over the last three months. Corporate insiders own 5.70% of the company's stock.

Institutional Trading of nCino

A number of large investors have recently made changes to their positions in the stock. Johnson Financial Group Inc. bought a new stake in shares of nCino in the fourth quarter valued at about $57,000. Covestor Ltd increased 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 in the last quarter. First Horizon Advisors Inc. increased its holdings in nCino by 22.5% in the 1st 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 period. FNY Investment Advisers LLC acquired a new position in nCino in the 1st quarter worth approximately $82,000. Finally, Asset Management One Co. Ltd. boosted its position in nCino by 63.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 3,718 shares of the company's stock worth $102,000 after purchasing an additional 1,439 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Price Performance

NASDAQ NCNO opened at $29.81 on Tuesday. nCino has a 12 month low of $18.75 and a 12 month high of $43.20. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -114.65, a PEG ratio of 29.62 and a beta of 0.77. The company's 50 day moving average is $26.49 and its two-hundred day moving average is $28.43. 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 (NASDAQ:NCNO - Get Free Report) last released its earnings results on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. nCino had a negative net margin of 5.27% and a positive return on equity of 0.19%. The company had revenue of $144.14 million for the quarter, compared to analysts' expectations of $139.77 million. During the same quarter last year, the business earned $0.19 EPS. The firm's revenue was up 12.5% compared to the same quarter last year. As a group, research analysts anticipate that nCino will post 0.12 earnings per share for the current year.

nCino declared that its board has approved a stock repurchase program on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership 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.

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