nCino (NASDAQ:NCNO) Given New $35.00 Price Target at JMP Securities

nCino (NASDAQ:NCNO - Get Free Report) had its price target lifted by investment analysts at JMP Securities from $32.00 to $35.00 in a report issued on Monday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. JMP Securities' target price points to a potential upside of 27.41% from the company's current price.

Other analysts have also recently issued research reports about the stock. Morgan Stanley raised their price objective on shares of nCino from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, May 29th. Stephens boosted their price target on shares of nCino from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group cut shares of nCino from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $42.00 to $24.00 in a research note on Wednesday, April 2nd. UBS Group set a $28.00 target price on nCino in a research report on Thursday, May 29th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $26.00 price objective (up previously from $19.00) on shares of nCino in a research note on Wednesday, May 21st. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $31.00.

nCino Stock Performance

NASDAQ NCNO traded up $0.17 on Monday, hitting $27.47. 1,260,514 shares of the company's stock traded hands, compared to its average volume of 1,532,864. nCino has a 1-year low of $18.75 and a 1-year high of $43.20. 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 firm has a market capitalization of $3.18 billion, a PE ratio of -161.58, a P/E/G ratio of 5.77 and a beta of 0.76. The firm's 50-day moving average price is $24.55 and its two-hundred day moving average price is $30.10.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.06). The business 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 revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. As a group, analysts expect that nCino will post 0.12 EPS for the current year.

nCino announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, VP Jeanette Sellers sold 2,501 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $21.51, for a total transaction of $53,796.51. Following the completion of the transaction, the vice president now owns 19,099 shares in the company, valued at approximately $410,819.49. This represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider April Rieger sold 7,881 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,397.66. Following the sale, 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 position. 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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC increased its stake in nCino by 22.2% during the 3rd 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 holdings 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 worth $331,000 after buying an additional 1,072 shares during the period. Angeles Wealth Management LLC purchased a new position in shares of nCino during the fourth quarter valued at about $219,000. Asset Management One Co. Ltd. grew its holdings in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock worth $78,000 after purchasing an additional 323 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new stake in nCino during the 4th quarter valued at $1,760,000. 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.