nCino Inc. (NASDAQ:NCNO) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• nCino received a consensus rating of “Moderate Buy” from 20 analysts, with an average 1-year price target of about $26.07. The split included one sell, six holds, 11 buys, and two strong buys.
• The company’s latest quarterly results beat expectations, reporting EPS of $0.37 versus the $0.21 estimate and revenue of $149.67 million versus $147.41 million expected. Revenue rose 5.9% year over year.
• Insiders recently sold shares, including director Pierre Naude and insider April Rieger, while institutional investors remained heavily involved with 94.76% ownership by institutions and hedge funds.

Shares of nCino Inc. (NASDAQ:NCNO - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $26.0667.

Several equities analysts recently issued reports on NCNO shares. Truist Financial reduced their price objective on nCino from $27.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, April 1st. The Goldman Sachs Group cut their price target on nCino from $28.00 to $24.00 and set a "neutral" rating for the company in a report on Wednesday, April 1st. Citizens Jmp cut their price target on nCino from $41.00 to $32.00 and set a "market outperform" rating for the company in a report on Wednesday, April 1st. Barclays boosted their price target on nCino from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, April 1st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of nCino in a report on Thursday, January 22nd.

nCino Stock Performance

Shares of NCNO stock opened at $17.75 on Monday. The stock has a fifty day moving average price of $16.60 and a 200 day moving average price of $21.13. The stock has a market cap of $1.93 billion, a PE ratio of 355.00 and a beta of 0.72. nCino has a 1 year low of $13.80 and a 1 year high of $33.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.16. The firm had revenue of $149.67 million during the quarter, compared to analysts' expectations of $147.41 million. nCino had a return on equity of 4.75% and a net margin of 0.87%.nCino's revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. Sell-side analysts forecast that nCino will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider April Rieger sold 9,693 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $174,667.86. Following the completion of the transaction, the insider directly owned 383,601 shares of the company's stock, valued at $6,912,490.02. The trade was a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 35,650 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $642,413.00. Following the completion of the transaction, the director directly owned 1,108,473 shares of the company's stock, valued at approximately $19,974,683.46. This trade represents a 3.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 164,918 shares of company stock valued at $2,900,939. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On nCino

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in nCino by 475.1% in the third quarter. Bank of America Corp DE now owns 2,513,686 shares of the company's stock valued at $68,146,000 after purchasing an additional 2,076,579 shares during the last quarter. Millennium Management LLC increased its stake in nCino by 262.8% in the fourth quarter. Millennium Management LLC now owns 2,341,532 shares of the company's stock valued at $60,037,000 after purchasing an additional 1,696,051 shares during the last quarter. Senvest Management LLC increased its stake in nCino by 68.6% in the fourth quarter. Senvest Management LLC now owns 4,078,276 shares of the company's stock valued at $104,567,000 after purchasing an additional 1,658,868 shares during the last quarter. Wellington Management Group LLP acquired a new position in nCino in the third quarter valued at $36,962,000. Finally, Ophir Asset Management Pty Ltd acquired a new position in nCino in the fourth quarter valued at $33,985,000. 94.76% of the stock is owned by institutional investors and hedge funds.

About nCino

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.

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