nCino (NASDAQ:NCNO) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of nCino (NASDAQ:NCNO - Free Report) in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage issued a neutral rating and a $30.00 price target on the stock.

Several other equities research analysts have also issued reports on NCNO. Keefe, Bruyette & Woods lifted their price objective on shares of nCino from $28.00 to $33.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Raymond James Financial reduced their price objective on shares of nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. UBS Group set a $28.00 price objective on shares of nCino in a research note on Thursday, May 29th. Barclays reaffirmed an "overweight" rating and issued a $31.00 price objective (up previously from $24.00) on shares of nCino in a research note on Thursday, May 29th. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $26.00 price objective (up previously from $19.00) on shares of nCino in a research note on Wednesday, May 21st. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $30.94.

nCino Stock Down 1.3%

Shares of NASDAQ:NCNO traded down $0.35 during trading on Wednesday, reaching $26.45. 1,662,450 shares of the company traded hands, compared to its average volume of 1,533,294. The firm has a fifty day simple moving average of $25.09 and a 200 day simple moving average of $29.29. The firm has a market cap of $3.07 billion, a P/E ratio of -101.73, a price-to-earnings-growth ratio of 27.18 and a beta of 0.76. nCino has a 1-year low of $18.75 and a 1-year high of $43.20. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.24.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results 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). The company had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. nCino had a negative net margin of 5.27% and a positive return on equity of 0.19%. The company's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. Analysts anticipate that nCino will post 0.12 earnings per share for the current fiscal year.

nCino declared that its Board of Directors has approved a stock repurchase program on Tuesday, April 1st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at nCino

In other news, insider April Rieger sold 7,881 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $164,397.66. Following the transaction, the insider now owns 138,072 shares in the company, valued at approximately $2,880,181.92. The trade was a 5.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jeanette Sellers sold 2,501 shares of the business's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $21.51, for a total transaction of $53,796.51. Following the transaction, the vice president now owns 19,099 shares in the company, valued at approximately $410,819.49. The trade was a 11.58% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,060 shares of company stock worth $3,101,115. 5.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Johnson Financial Group Inc. acquired a new stake in shares of nCino during the 4th quarter valued at about $57,000. Covestor Ltd boosted its position in shares of nCino by 27.6% during the 1st 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. Asset Management One Co. Ltd. boosted its position in shares of 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 acquiring an additional 323 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of nCino by 22.5% during the 1st quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock valued at $80,000 after acquiring an additional 538 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of nCino during the 1st quarter valued at about $82,000. 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.