Recent Investment Analysts’ Ratings Changes for nCino (NCNO)

A number of research firms have changed their ratings and price targets for nCino (NASDAQ: NCNO):

  • 4/4/2022 – nCino had its price target lowered by analysts at Robert W. Baird from $60.00 to $55.00.
  • 4/1/2022 – nCino had its price target lowered by analysts at Piper Sandler from $80.00 to $55.00. They now have an “overweight” rating on the stock.
  • 4/1/2022 – nCino had its price target lowered by analysts at Barclays PLC from $58.00 to $47.00. They now have an “equal weight” rating on the stock.
  • 4/1/2022 – nCino had its price target lowered by analysts at Truist Financial Co. from $90.00 to $80.00. They now have a “buy” rating on the stock.
  • 4/1/2022 – nCino had its price target lowered by analysts at Needham & Company LLC from $85.00 to $60.00. They now have a “buy” rating on the stock.
  • 3/5/2022 – nCino was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “nCino, Inc. is a provider of cloud-based software for financial institutions. nCino, Inc. is based in WILMINGTON, N.C. “

NCNO stock traded down $0.60 during trading hours on Monday, hitting $42.21. The company’s stock had a trading volume of 654,986 shares, compared to its average volume of 992,352. The stock has a 50 day moving average price of $45.10 and a two-hundred day moving average price of $55.51. nCino, Inc. has a 12 month low of $37.65 and a 12 month high of $79.43. The company has a market capitalization of $4.08 billion, a PE ratio of -82.76 and a beta of 1.00. The company has a quick ratio of 3.62, a current ratio of 3.62 and a debt-to-equity ratio of 0.08.

nCino (NASDAQ:NCNOGet Rating) last posted its earnings results on Thursday, March 31st. The company reported ($0.09) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.09). nCino had a negative net margin of 18.06% and a negative return on equity of 11.43%. The firm had revenue of $74.96 million for the quarter, compared to the consensus estimate of $69.31 million. During the same period in the prior year, the business posted ($0.11) earnings per share. The business’s quarterly revenue was up 32.5% on a year-over-year basis. Sell-side analysts expect that nCino, Inc. will post -0.57 earnings per share for the current year.

In related news, CFO David Rudow sold 2,215 shares of the business’s stock in a transaction dated Wednesday, April 6th. The stock was sold at an average price of $43.63, for a total transaction of $96,640.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Pierre Naude sold 9,749 shares of the stock in a transaction that occurred on Wednesday, April 6th. The shares were sold at an average price of $43.63, for a total value of $425,348.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,921 shares of company stock valued at $607,373. Corporate insiders own 35.40% of the company’s stock.

Hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund lifted its holdings in shares of nCino by 297.7% during the third quarter. New York State Common Retirement Fund now owns 211,967 shares of the company’s stock worth $15,056,000 after buying an additional 158,667 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of nCino by 21.3% in the third quarter. UBS Asset Management Americas Inc. now owns 52,438 shares of the company’s stock valued at $3,725,000 after purchasing an additional 9,204 shares in the last quarter. Gotham Asset Management LLC acquired a new position in shares of nCino in the third quarter valued at $236,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of nCino in the third quarter valued at $236,000. Finally, Caption Management LLC acquired a new position in shares of nCino in the third quarter valued at $1,068,000.

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, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.

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