nCino (NASDAQ:NCNO) Receives Buy Rating from Needham & Company LLC

nCino (NASDAQ:NCNO - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They presently have a $33.00 price target on the stock. Needham & Company LLC's price target would suggest a potential upside of 24.81% from the stock's current price.

Several other research analysts have also weighed in on the stock. Bank of America upped their price objective on shares of nCino from $22.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, April 10th. Piper Sandler reiterated a "neutral" rating and issued a $28.00 price objective (up previously from $25.00) on shares of nCino in a research note on Thursday. Barclays dropped their price target on shares of nCino from $44.00 to $24.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley restated a "positive" rating on shares of nCino in a research note on Friday, May 23rd. Finally, Raymond James dropped their price target on shares of nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $30.80.

nCino Stock Up 0.4%

nCino stock traded up $0.11 during trading hours on Thursday, hitting $26.44. The company had a trading volume of 2,357,410 shares, compared to its average volume of 1,516,681. The firm has a market capitalization of $3.05 billion, a P/E ratio of -155.52, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The firm's fifty day moving average is $24.41 and its 200-day moving average is $30.84. nCino has a fifty-two week low of $18.75 and a fifty-two week high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). The company had revenue of $141.37 million during the quarter, compared to analyst estimates of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 EPS. On average, research analysts forecast that nCino will post 0.12 earnings per share for the current year.

nCino announced that its board has initiated a stock buyback 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 often an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other nCino news, insider April Rieger sold 7,881 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $164,397.66. Following the completion of the sale, the insider now directly owns 138,072 shares of the company's stock, valued at $2,880,181.92. This represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pierre Naude sold 31,123 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 1,066,090 shares of the company's stock, valued at approximately $22,238,637.40. This trade represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 141,060 shares of company stock valued at $3,101,115. Company insiders own 5.70% of the company's stock.

Institutional Trading of nCino

A number of hedge funds have recently bought and sold shares of NCNO. Fifth Third Bancorp bought a new stake in nCino in the 4th quarter valued at $34,000. Johnson Financial Group Inc. bought a new stake in nCino in the 4th quarter valued at $57,000. Covestor Ltd boosted its holdings in nCino by 27.6% in the 1st quarter. Covestor Ltd now owns 2,388 shares of the company's stock valued at $66,000 after purchasing an additional 517 shares during the period. Asset Management One Co. Ltd. boosted its holdings in nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after purchasing an additional 323 shares during the period. Finally, First Horizon Advisors Inc. boosted 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 valued at $80,000 after purchasing an additional 538 shares during the period. 94.76% of the stock is owned by institutional investors.

nCino Company Profile

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.