nCino (NASDAQ:NCNO) Raised to Outperform at Robert W. Baird

nCino (NASDAQ:NCNO - Get Free Report) was upgraded by research analysts at Robert W. Baird from a "neutral" rating to an "outperform" rating in a research report issued on Monday, MarketBeat reports. The brokerage presently has a $38.00 target price on the stock, up from their previous target price of $30.00. Robert W. Baird's target price would suggest a potential upside of 26.50% from the company's current price.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group lowered nCino from a "buy" rating to a "neutral" rating and dropped their price target for the company from $42.00 to $24.00 in a research report on Wednesday, April 2nd. JMP Securities boosted their target price on nCino from $32.00 to $35.00 and gave the stock a "market outperform" rating in a report on Monday, June 9th. Raymond James Financial reduced their price target on nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Barclays restated an "overweight" rating and set a $31.00 price target (up from $24.00) on shares of nCino in a report on Thursday, May 29th. Finally, Stephens raised their price target on nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Wednesday, May 21st. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $30.69.

nCino Trading Up 2.6%

NCNO stock traded up $0.76 on Monday, reaching $30.04. The company's stock had a trading volume of 1,010,327 shares, compared to its average volume of 1,567,177. The business has a fifty day simple moving average of $26.79 and a two-hundred day simple moving average of $28.40. nCino has a 12-month low of $18.75 and a 12-month high of $43.20. The firm has a market cap of $3.48 billion, a PE ratio of -115.54, a PEG ratio of 30.64 and a beta of 0.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.05.

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

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

Insider Activity

In other news, CEO Sean Desmond sold 12,339 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $23.00, for a total transaction of $283,797.00. Following the transaction, the chief executive officer owned 637,405 shares of the company's stock, valued at approximately $14,660,315. The trade was a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Gregory Orenstein sold 10,343 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total value of $237,889.00. Following the transaction, the chief financial officer directly owned 470,254 shares in the company, valued at approximately $10,815,842. This represents a 2.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,049 shares of company stock valued at $1,449,672 in the last three months. 5.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On nCino

A number of institutional investors and hedge funds have recently modified their holdings of NCNO. Charles Schwab Investment Management Inc. lifted its stake in shares of nCino by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 566,627 shares of the company's stock worth $19,027,000 after acquiring an additional 9,870 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of nCino by 2.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock worth $407,000 after acquiring an additional 340 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of nCino by 32.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company's stock worth $152,000 after acquiring an additional 1,122 shares during the last quarter. Amundi lifted its stake in shares of nCino by 312.1% during the 4th quarter. Amundi now owns 6,004 shares of the company's stock worth $201,000 after acquiring an additional 4,547 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of nCino by 4.2% during the 4th quarter. HighTower Advisors LLC now owns 17,620 shares of the company's stock worth $592,000 after acquiring an additional 714 shares during the last quarter. 94.76% of the stock is owned by institutional investors.

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.