Truist Financial Forecasts Strong Price Appreciation for nCino (NASDAQ:NCNO) Stock

nCino (NASDAQ:NCNO - Get Free Report) had its target price boosted by analysts at Truist Financial from $21.00 to $27.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price target suggests a potential upside of 3.09% from the company's current price.

NCNO has been the subject of a number of other research reports. Scotiabank reiterated a "sector perform" rating and issued a $26.00 price target (up previously from $19.00) on shares of nCino in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods upped their price objective on nCino from $28.00 to $33.00 and gave the stock an "outperform" rating in a research note on Thursday. Barclays reiterated an "overweight" rating and set a $31.00 target price (up previously from $24.00) on shares of nCino in a research report on Thursday. Raymond James lowered their price target on nCino from $42.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $30.80.

nCino Stock Down 0.4%

Shares of NCNO traded down $0.11 on Thursday, hitting $26.19. 1,827,724 shares of the stock traded hands, compared to its average volume of 1,516,700. nCino has a one year low of $18.75 and a one year high of $43.20. The business has a 50 day simple moving average of $24.41 and a 200 day simple moving average of $30.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $3.02 billion, a PE ratio of -154.05, a P/E/G ratio of 5.77 and a beta of 0.71.

nCino (NASDAQ:NCNO - Get Free Report) last released its quarterly 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 negative net margin of 3.46% and a positive return on equity of 1.62%. The business had revenue of $141.37 million for the quarter, compared to analysts' expectations of $140.81 million. During the same period in the previous year, the company earned $0.21 EPS. nCino's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities analysts forecast that nCino will post 0.12 earnings per share for the current fiscal 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 reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at nCino

In related news, Director Pierre Naude sold 31,123 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $649,225.78. Following the completion of the transaction, the director now owns 1,066,090 shares of the company's stock, valued at approximately $22,238,637.40. This represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jeanette Sellers sold 2,501 shares of the company's stock in a transaction that occurred 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 transaction, the vice president now directly owns 19,099 shares of the company's stock, valued at approximately $410,819.49. The trade was a 11.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,060 shares of company stock worth $3,101,115. Insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On nCino

Several large investors have recently bought and sold shares of the company. Fifth Third Bancorp acquired a new stake in nCino during the 4th quarter worth $34,000. Johnson Financial Group Inc. purchased a new stake in nCino during the 4th quarter valued at about $57,000. Covestor Ltd raised its holdings in nCino by 27.6% in the 1st quarter. Covestor Ltd now owns 2,388 shares of the company's stock valued at $66,000 after acquiring an additional 517 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in nCino by 16.5% in the 4th 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 in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of nCino by 22.5% during the 1st quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company's stock worth $80,000 after purchasing an additional 538 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other 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.