nCino (NASDAQ:NCNO) Price Target Raised to $27.00 at Morgan Stanley

nCino (NASDAQ:NCNO - Get Free Report) had its price objective boosted by stock analysts at Morgan Stanley from $23.00 to $27.00 in a report released on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 1.13% from the company's previous close.

A number of other research firms also recently issued reports on NCNO. Truist Financial downgraded nCino from a "buy" rating to a "hold" rating and dropped their price target for the stock from $44.00 to $21.00 in a research report on Wednesday, April 2nd. Stephens upped their price objective on shares of nCino from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Wednesday. KeyCorp reissued a "sector weight" rating on shares of nCino in a research report on Monday, February 3rd. William Blair lowered shares of nCino from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Finally, UBS Group set a $40.00 price target on shares of nCino in a research report on Friday, March 28th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $30.80.

nCino Trading Up 0.1%

NCNO traded up $0.04 on Friday, reaching $26.70. 271,079 shares of the company traded hands, compared to its average volume of 1,479,403. nCino has a one year low of $18.75 and a one year high of $43.20. The firm has a fifty day simple moving average of $24.68 and a two-hundred day simple moving average of $31.45. The company has a market cap of $3.08 billion, a P/E ratio of -157.14, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The company had revenue of $141.37 million for the quarter, compared to analysts' expectations of $140.81 million. During the same period last year, the business posted $0.21 earnings per share. The business's revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts expect that nCino will post 0.12 earnings per share for the current year.

nCino declared that its board has initiated a stock buyback program on Tuesday, April 1st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other nCino news, CFO Gregory Orenstein sold 12,101 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $252,426.86. Following the completion of the sale, the chief financial officer now directly owns 259,643 shares in the company, valued at approximately $5,416,152.98. This trade represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jeanette Sellers sold 2,167 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $22.79, for a total value of $49,385.93. Following the completion of the sale, the vice president now directly owns 27,108 shares of the company's stock, valued at approximately $617,791.32. This represents a 7.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,060 shares of company stock valued at $3,101,115. 28.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On nCino

Several hedge funds have recently modified their holdings of NCNO. Vanguard Group Inc. boosted its stake in nCino by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 11,666,955 shares of the company's stock worth $320,491,000 after purchasing an additional 836,182 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of nCino by 171.9% during the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock worth $207,450,000 after buying an additional 3,905,802 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of nCino by 50.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,867,463 shares of the company's stock worth $133,710,000 after buying an additional 1,626,446 shares during the period. Capital International Investors grew its holdings in shares of nCino by 57.4% during the fourth quarter. Capital International Investors now owns 4,691,204 shares of the company's stock valued at $157,531,000 after buying an additional 1,710,893 shares during the last quarter. Finally, Soma Equity Partners LP increased its position in shares of nCino by 5.7% in the 4th quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company's stock valued at $97,976,000 after acquiring an additional 156,238 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

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.

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