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nCino (NASDAQ:NCNO) Price Target Raised to $35.00

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nCino (NASDAQ:NCNO - Get Free Report) had its price target raised by equities research analysts at JMP Securities from $32.00 to $35.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' price objective would suggest a potential upside of 27.46% from the company's previous close.

Several other brokerages have also commented on NCNO. Truist Financial increased their target price on shares of nCino from $21.00 to $27.00 and gave the company a "hold" rating in a report on Thursday, May 29th. Scotiabank reissued a "sector perform" rating and set a $26.00 price target (up previously from $19.00) on shares of nCino in a research report on Wednesday, May 21st. William Blair cut shares of nCino from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Bank of America increased their target price on shares of nCino from $22.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, April 10th. Finally, Raymond James cut their target price on nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.00.

Read Our Latest Stock Report on nCino

nCino Price Performance

NASDAQ:NCNO traded up $0.14 during mid-day trading on Monday, hitting $27.46. 41,259 shares of the stock traded hands, compared to its average volume of 1,527,320. The business's 50-day moving average price is $24.24 and its 200 day moving average price is $30.24. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.18 billion, a PE ratio of -161.27, a price-to-earnings-growth ratio of 5.77 and a beta of 0.76. nCino has a 12-month low of $18.75 and a 12-month high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last posted its earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing the consensus estimate 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 business had revenue of $141.37 million for the quarter, compared to analysts' expectations of $140.81 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. nCino's quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts expect that nCino will post 0.12 EPS for the current fiscal year.

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

Insider Buying and Selling

In other news, insider April Rieger sold 7,881 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $164,397.66. Following the transaction, the insider now directly owns 138,072 shares in the company, valued at $2,880,181.92. This trade represents a 5.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Pierre Naude sold 31,123 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $649,225.78. Following the sale, the director now 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,060 shares of company stock worth $3,101,115. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On nCino

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Johnson Financial Group Inc. purchased a new position in nCino during the fourth quarter valued at $57,000. Covestor Ltd grew its stake in shares of nCino by 27.6% in the 1st quarter. Covestor Ltd now owns 2,388 shares of the company's stock worth $66,000 after buying an additional 517 shares in the last quarter. Asset Management One Co. Ltd. lifted its position 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 buying an additional 323 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in nCino by 22.5% during the first quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock worth $80,000 after buying an additional 538 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of nCino in the first quarter valued at $82,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

About nCino

(Get Free Report)

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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Analyst Recommendations for nCino (NASDAQ:NCNO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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