nCino (NASDAQ:NCNO) Stock Rating Upgraded by Robert W. Baird

nCino (NASDAQ:NCNO - Get Free Report) was upgraded by equities research analysts at Robert W. Baird from a "neutral" rating to an "outperform" rating in a report released on Monday, MarketBeat.com reports. The brokerage currently has a $38.00 price objective on the stock, up from their previous price objective of $30.00. Robert W. Baird's target price would suggest a potential upside of 23.82% from the stock's current price.

Several other equities research analysts also recently commented on the company. Morgan Stanley raised their target price on nCino from $27.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Stephens raised their target price on nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Raymond James Financial dropped their target price on nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Citigroup reiterated an "outperform" rating on shares of nCino in a report on Monday, June 9th. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $26.00 target price (up from $19.00) on shares of nCino in a research report on Wednesday, May 21st. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.69.

nCino Trading Up 2.2%

Shares of nCino stock traded up $0.65 during trading hours on Monday, reaching $30.69. The stock had a trading volume of 2,518,403 shares, compared to its average volume of 1,566,448. The firm has a 50 day simple moving average of $27.07 and a two-hundred day simple moving average of $28.39. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -118.04, a P/E/G ratio of 30.87 and a beta of 0.77. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24. nCino has a 1 year low of $18.75 and a 1 year high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $144.14 million for the quarter, compared to the consensus estimate of $139.77 million. nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The company's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $0.19 EPS. As a group, equities research analysts anticipate that nCino will post 0.12 earnings per share for the current year.

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

Insider Activity at nCino

In other news, insider April Rieger sold 6,589 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $151,547.00. Following the completion of the transaction, the insider owned 243,551 shares of the company's stock, valued at approximately $5,601,673. The trade was a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Pierre Naude sold 30,745 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total transaction of $707,135.00. Following the transaction, the director directly owned 1,197,120 shares of the company's stock, valued at approximately $27,533,760. This trade represents a 2.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,049 shares of company stock valued at $1,449,672. Company insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NCNO. Johnson Financial Group Inc. bought a new position in shares of nCino in the fourth quarter worth $57,000. Covestor Ltd grew its stake in shares of nCino by 27.6% in the first quarter. Covestor Ltd now owns 2,388 shares of the company's stock worth $66,000 after purchasing an additional 517 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of nCino by 22.5% in the first quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock worth $80,000 after purchasing an additional 538 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of nCino in the first quarter worth $82,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of nCino by 63.1% in the first quarter. Asset Management One Co. Ltd. now owns 3,718 shares of the company's stock worth $102,000 after purchasing an additional 1,439 shares in the last quarter. Institutional investors 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.