nCino (NASDAQ:NCNO) Given New $27.00 Price Target at Truist Financial

nCino (NASDAQ:NCNO - Get Free Report) had its price objective boosted by equities researchers at Truist Financial from $21.00 to $27.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's target price suggests a potential upside of 2.12% from the stock's current price.

A number of other research firms also recently issued reports on NCNO. KeyCorp reiterated a "sector weight" rating on shares of nCino in a report on Monday, February 3rd. Stephens increased their price target on nCino from $24.00 to $28.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 21st. Needham & Company LLC reissued a "buy" rating and set a $33.00 price target on shares of nCino in a research report on Thursday. JMP Securities reissued a "market outperform" rating and set a $32.00 price target on shares of nCino in a research report on Tuesday. Finally, UBS Group set a $40.00 price target on nCino in a research report on Friday, March 28th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, nCino presently has a consensus rating of "Hold" and a consensus price target of $30.80.

nCino Trading Up 0.4%

Shares of nCino stock traded up $0.11 during trading hours on Thursday, hitting $26.44. The company's stock had a trading volume of 2,357,410 shares, compared to its average volume of 1,516,681. nCino has a 12 month low of $18.75 and a 12 month high of $43.20. The stock has a 50 day moving average of $24.41 and a 200 day moving average of $30.84. The company has a market capitalization of $3.05 billion, a PE ratio of -155.52, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.06). The firm had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 earnings per share. Analysts predict that nCino will post 0.12 earnings per share for the current year.

nCino announced that its board has authorized a stock buyback program on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other news, VP Jeanette Sellers sold 2,501 shares of nCino stock in a transaction 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 owns 19,099 shares in the company, valued at approximately $410,819.49. This trade represents a 11.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider April Rieger sold 6,589 shares of nCino stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total value of $151,547.00. Following the completion of the transaction, the insider now owns 243,551 shares in the company, valued at approximately $5,601,673. The trade was a 2.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,060 shares of company stock worth $3,101,115 in the last 90 days. Company insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On nCino

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC boosted its holdings in shares of 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 acquiring an additional 13,252 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of nCino by 12.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,865 shares of the company's stock valued at $331,000 after acquiring an additional 1,072 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of nCino during the 4th quarter valued at $34,000. KBC Group NV boosted its holdings in shares of nCino by 3,082.1% during the 4th quarter. KBC Group NV now owns 75,988 shares of the company's stock valued at $2,552,000 after acquiring an additional 73,600 shares in the last quarter. Finally, Gagnon Securities LLC acquired a new stake in shares of nCino during the 4th quarter valued at $4,189,000. 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.