nCino (NASDAQ:NCNO) Coverage Initiated at JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. began coverage on shares of nCino (NASDAQ:NCNO - Get Free Report) in a research note issued on Wednesday,Benzinga reports. The firm set a "neutral" rating and a $30.00 price target on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 10.78% from the stock's previous close.

Several other research analysts have also recently weighed in on NCNO. Citigroup reiterated an "outperform" rating on shares of nCino in a research report on Monday, June 9th. Truist Financial upped their price target on shares of nCino from $21.00 to $27.00 and gave the company a "hold" rating in a research note on Thursday, May 29th. Bank of America lifted their price objective on shares of nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, April 10th. Raymond James Financial decreased their target price on shares of nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Finally, Stephens raised 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. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $30.94.

nCino Stock Performance

Shares of NCNO stock opened at $27.08 on Wednesday. nCino has a 52 week low of $18.75 and a 52 week high of $43.20. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -104.15, a PEG ratio of 27.65 and a beta of 0.76. The company has a 50-day simple moving average of $24.92 and a 200 day simple moving average of $29.60. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.05.

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 the consensus estimate of $0.18 by ($0.06). nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The company had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same quarter last year, the business earned $0.21 earnings per share. The company's revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts predict that nCino will post 0.12 earnings per share for the current year.

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

Insider Buying and Selling at nCino

In related news, Director Pierre Naude sold 31,123 shares of nCino stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $649,225.78. Following the sale, the director now directly owns 1,066,090 shares of the company's stock, valued at approximately $22,238,637.40. The trade was a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider April Rieger sold 7,881 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 of the company's stock, valued at approximately $2,880,181.92. This represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,060 shares of company stock valued at $3,101,115. 5.70% of the stock is currently owned by corporate insiders.

Institutional Trading of nCino

A number of hedge funds have recently added to or reduced their stakes in NCNO. Strs Ohio acquired a new position in shares of nCino during the first quarter worth $1,086,000. Advisors Capital Management LLC increased its holdings in nCino by 0.7% in the 1st quarter. Advisors Capital Management LLC now owns 66,270 shares of the company's stock worth $1,820,000 after purchasing an additional 479 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in nCino by 16.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company's stock valued at $7,731,000 after purchasing an additional 39,345 shares during the last quarter. Woodline Partners LP boosted its stake in shares of nCino by 105.3% during the first quarter. Woodline Partners LP now owns 13,227 shares of the company's stock valued at $363,000 after purchasing an additional 6,783 shares in the last quarter. Finally, Clearline Capital LP acquired a new stake in shares of nCino during the first quarter valued at about $494,000. Institutional investors and hedge funds 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.

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