nCino, Inc. (NASDAQ:NCNO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

nCino, Inc. (NASDAQ:NCNOGet Rating) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $50.44.

Several analysts have recently commented on the company. Truist Financial decreased their target price on nCino from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, June 2nd. KeyCorp decreased their target price on nCino from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th. Stephens decreased their target price on nCino to $40.00 in a research report on Friday, June 3rd. Piper Sandler decreased their target price on nCino from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. Finally, Needham & Company LLC decreased their target price on nCino from $60.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, June 2nd.

nCino Stock Up 0.2 %

NCNO opened at $35.65 on Friday. The firm has a market cap of $3.93 billion, a PE ratio of -56.59 and a beta of 0.82. The business has a fifty day simple moving average of $32.93 and a 200-day simple moving average of $38.34. nCino has a fifty-two week low of $23.94 and a fifty-two week high of $79.43.

nCino (NASDAQ:NCNOGet Rating) last released its quarterly earnings data on Wednesday, June 1st. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.03). The company had revenue of $94.21 million for the quarter, compared to the consensus estimate of $91.42 million. nCino had a negative return on equity of 13.52% and a negative net margin of 21.30%. The business’s revenue was up 51.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) earnings per share. On average, equities research analysts anticipate that nCino will post -0.72 EPS for the current fiscal year.

Insider Activity at nCino

In related news, Director Jeffrey W. Lunsford sold 60,000 shares of nCino stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $36.38, for a total transaction of $2,182,800.00. Following the completion of the sale, the director now owns 113,404 shares of the company’s stock, valued at $4,125,637.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other nCino news, VP Jeanette Sellers sold 974 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $32.34, for a total transaction of $31,499.16. Following the transaction, the vice president now directly owns 21,072 shares in the company, valued at $681,468.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey W. Lunsford sold 60,000 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $36.38, for a total value of $2,182,800.00. Following the transaction, the director now owns 113,404 shares in the company, valued at $4,125,637.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,099 shares of company stock valued at $5,938,354. Insiders own 37.20% of the company’s stock.

Hedge Funds Weigh In On nCino

A number of institutional investors have recently made changes to their positions in NCNO. Allspring Global Investments Holdings LLC acquired a new stake in nCino during the fourth quarter worth about $27,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in nCino by 31.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,563 shares of the company’s stock valued at $195,000 after purchasing an additional 850 shares in the last quarter. Yarbrough Capital LLC acquired a new stake in nCino during the fourth quarter valued at approximately $262,000. New York State Common Retirement Fund boosted its holdings in nCino by 4.8% during the fourth quarter. New York State Common Retirement Fund now owns 222,067 shares of the company’s stock valued at $12,183,000 after purchasing an additional 10,100 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in nCino by 13.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 86,113 shares of the company’s stock valued at $4,724,000 after purchasing an additional 10,000 shares in the last quarter.

nCino Company Profile

(Get Rating)

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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Analyst Recommendations for nCino (NASDAQ:NCNO)

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