nCino, Inc. (NASDAQ:NCNO) Receives $38.00 Consensus PT from Analysts

nCino, Inc. (NASDAQ:NCNO) has received an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $38.00.

NCNO has been the topic of a number of analyst reports. Needham & Company LLC reduced their price target on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a report on Tuesday, September 3rd. Piper Sandler reiterated an “overweight” rating and set a $38.00 price target on shares of nCino in a report on Wednesday, August 28th. Truist Financial reissued a “buy” rating and issued a $37.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Finally, JMP Securities reiterated a “market outperform” rating and set a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th.

Insider Activity at nCino

In other nCino news, Director Insight Holdings Group, Llc sold 2,498 shares of nCino stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $31.51, for a total transaction of $78,711.98. Following the transaction, the director now owns 2,025,991 shares of the company’s stock, valued at $63,838,976.41. The transaction was disclosed in a filing with the SEC, which is available at this link. In other nCino news, Director Insight Holdings Group, Llc sold 2,498 shares of nCino stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $31.51, for a total value of $78,711.98. Following the transaction, the director now directly owns 2,025,991 shares in the company, valued at $63,838,976.41. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeff Horing sold 133,487 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $31.51, for a total transaction of $4,206,175.37. Following the completion of the sale, the director now directly owns 24,879,980 shares of the company’s stock, valued at $783,968,169.80. The disclosure for this sale can be found here. Insiders sold a total of 4,407,811 shares of company stock valued at $141,848,240 in the last three months. 28.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NCNO. Crewe Advisors LLC acquired a new position in nCino in the 2nd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of nCino during the first quarter worth about $52,000. Covestor Ltd raised its holdings in nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after purchasing an additional 625 shares in the last quarter. Lazard Asset Management LLC lifted its position in nCino by 145.6% in the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock valued at $168,000 after purchasing an additional 2,677 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in nCino in the 4th quarter valued at approximately $171,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Stock Down 0.9 %

Shares of NCNO opened at $30.44 on Wednesday. The company’s 50-day simple moving average is $31.79 and its 200-day simple moving average is $31.44. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. nCino has a 1 year low of $27.13 and a 1 year high of $37.48. The stock has a market capitalization of $3.50 billion, a PE ratio of -98.19, a P/E/G ratio of 22.77 and a beta of 0.58.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The company had revenue of $132.40 million during the quarter, compared to analysts’ expectations of $131.06 million. During the same quarter last year, the company posted ($0.02) EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. Analysts forecast that nCino will post 0.06 earnings per share for the current fiscal year.

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.