Brokerages Set nCino Inc. (NASDAQ:NCNO) Price Target at $30.69

Shares of nCino Inc. (NASDAQ:NCNO - Get Free Report) have received an average rating of "Moderate Buy" from the twenty research firms that are covering the firm, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $30.69.

A number of equities research analysts have recently issued reports on the stock. Stephens boosted their target price 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. JPMorgan Chase & Co. assumed coverage on shares of nCino in a research report on Wednesday, June 18th. They issued a "neutral" rating and a $30.00 target price for the company. Baird R W raised shares of nCino from a "hold" rating to a "strong-buy" rating in a research report on Monday. UBS Group set a $28.00 target price on shares of nCino in a research report on Thursday, May 29th. Finally, Robert W. Baird raised shares of nCino from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $30.00 to $38.00 in a research report on Monday.

nCino Stock Performance

NCNO stock traded down $0.19 during midday trading on Tuesday, reaching $30.50. 361,751 shares of the company were exchanged, compared to its average volume of 1,561,714. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50-day moving average price of $27.07 and a two-hundred day moving average price of $28.39. nCino has a one year low of $18.75 and a one year high of $43.20. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of -117.27, a price-to-earnings-growth ratio of 30.87 and a beta of 0.77.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. The firm had revenue of $144.14 million during the quarter, compared to analysts' expectations of $139.77 million. nCino had a negative net margin of 5.27% and a positive return on equity of 0.19%. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 earnings per share. Equities research analysts forecast that nCino will post 0.12 EPS for the current year.

nCino declared that its Board of Directors has approved a stock buyback program on Tuesday, April 1st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity

In related news, CEO Sean Desmond sold 12,339 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total value of $283,797.00. Following the completion of the transaction, the chief executive officer owned 637,405 shares in the company, valued at $14,660,315. This trade represents a 1.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeanette Sellers sold 2,167 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $22.79, for a total transaction of $49,385.93. Following the completion of the transaction, the vice president owned 27,108 shares of the company's stock, valued at approximately $617,791.32. This trade represents a 7.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,049 shares of company stock valued at $1,449,672. Corporate insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in nCino by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 11,666,955 shares of the company's stock valued at $320,491,000 after purchasing an additional 836,182 shares during the period. Wasatch Advisors LP increased its position in nCino by 171.9% during 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 during the period. T. Rowe Price Investment Management Inc. increased its position in nCino by 50.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,867,463 shares of the company's stock valued at $133,710,000 after purchasing an additional 1,626,446 shares during the period. Capital International Investors increased its position in nCino by 57.4% during the 4th quarter. Capital International Investors now owns 4,691,204 shares of the company's stock valued at $157,531,000 after purchasing an additional 1,710,893 shares during the period. Finally, Soma Equity Partners LP increased its position in nCino by 5.7% during the 4th quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company's stock valued at $97,976,000 after purchasing an additional 156,238 shares during the period. 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.