nCino (NASDAQ:NCNO) Stock Price Expected to Rise, Stephens Analyst Says

nCino (NASDAQ:NCNO - Get Free Report) had its price objective raised by equities researchers at Stephens from $24.00 to $28.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Stephens' target price indicates a potential upside of 6.63% from the company's current price.

NCNO has been the topic of several other reports. Raymond James cut their target price 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. UBS Group set a $40.00 price target on nCino in a report on Friday, March 28th. Needham & Company LLC dropped their price target on nCino from $45.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Bank of America increased their price objective on nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, April 10th. Finally, Keefe, Bruyette & Woods lowered their target price on nCino from $40.00 to $28.00 and set an "outperform" rating on the stock in a research note on Thursday, April 3rd. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, nCino currently has a consensus rating of "Hold" and an average target price of $30.80.

nCino Price Performance

Shares of NASDAQ NCNO traded down $0.40 during mid-day trading on Wednesday, reaching $26.26. The company had a trading volume of 2,955,053 shares, compared to its average volume of 1,495,785. nCino has a 1-year low of $18.75 and a 1-year high of $43.20. The stock has a market cap of $3.03 billion, a PE ratio of -154.46, a P/E/G ratio of 5.77 and a beta of 0.71. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $24.63 and a two-hundred day moving average price of $31.23.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share 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 during the quarter, compared to analysts' expectations of $140.81 million. During the same period in the prior year, the business posted $0.21 EPS. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts anticipate that nCino will post 0.12 earnings per share for the current year.

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

Insiders Place Their Bets

In other nCino news, VP Jeanette Sellers sold 2,501 shares of the business's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $21.51, for a total value of $53,796.51. Following the sale, the vice president now directly owns 19,099 shares in the company, valued at $410,819.49. The trade was a 11.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider April Rieger sold 6,589 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $151,547.00. Following the sale, the insider now directly owns 243,551 shares in the company, valued at approximately $5,601,673. This trade represents a 2.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 141,060 shares of company stock valued at $3,101,115 in the last three months. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Barclays PLC raised its position in nCino by 22.2% during the third quarter. Barclays PLC now owns 73,014 shares of the company's stock valued at $2,306,000 after purchasing an additional 13,252 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of nCino by 12.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,865 shares of the company's stock valued at $331,000 after acquiring an additional 1,072 shares during the period. Cottonwood Capital Advisors LLC bought a new position in shares of nCino during the fourth quarter valued at approximately $218,000. Fifth Third Bancorp bought a new stake in shares of nCino during the fourth quarter valued at approximately $34,000. Finally, KBC Group NV boosted its position in shares of nCino by 3,082.1% in the 4th quarter. KBC Group NV now owns 75,988 shares of the company's stock worth $2,552,000 after purchasing an additional 73,600 shares in the last quarter. 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.