nCino (NASDAQ:NCNO) Given “Market Outperform” Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of nCino (NASDAQ:NCNO) in a research note released on Wednesday, Benzinga reports. They currently have a $43.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group upgraded nCino from a neutral rating to a buy rating and upped their price target for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Stephens restated an equal weight rating and issued a $35.00 price objective on shares of nCino in a research report on Wednesday. Macquarie restated an outperform rating and issued a $40.00 price objective on shares of nCino in a research report on Tuesday, August 6th. Robert W. Baird decreased their price objective on shares of nCino from $37.00 to $36.00 and set a neutral rating on the stock in a research report on Thursday, May 30th. Finally, William Blair restated an outperform rating on shares of nCino in a research report on Wednesday, June 26th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, nCino currently has an average rating of Moderate Buy and an average target price of $37.15.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $29.74 on Wednesday. The company’s 50-day moving average is $32.31 and its 200 day moving average is $31.44. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $3.42 billion, a P/E ratio of -95.94, a price-to-earnings-growth ratio of 17.54 and a beta of 0.59. nCino has a fifty-two week low of $27.13 and a fifty-two week high of $37.48.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. nCino had a negative net margin of 6.94% and a positive return on equity of 1.13%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) EPS. On average, equities research analysts forecast that nCino will post 0.08 earnings per share for the current year.

Insider Activity at nCino

In other nCino news, CEO Pierre Naude sold 14,101 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $30.15, for a total value of $425,145.15. Following the completion of the transaction, the chief executive officer now owns 1,114,239 shares in the company, valued at $33,594,305.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Pierre Naude sold 14,101 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $30.15, for a total transaction of $425,145.15. Following the completion of the transaction, the chief executive officer now directly owns 1,114,239 shares in the company, valued at $33,594,305.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeff Horing sold 800,002 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $33.16, for a total value of $26,528,066.32. Following the transaction, the director now owns 16,649,942 shares of the company’s stock, valued at $552,112,076.72. The disclosure for this sale can be found here. Insiders sold a total of 6,642,425 shares of company stock worth $212,241,592 over the last quarter. 28.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On nCino

Institutional investors have recently modified their holdings of the business. Crewe Advisors LLC purchased a new stake in shares of nCino during the second quarter valued at $26,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of nCino during the 1st quarter valued at about $52,000. Covestor Ltd grew its stake in shares of nCino by 29.6% during the 1st quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after purchasing an additional 625 shares during the period. Lazard Asset Management LLC grew its stake in shares of nCino by 145.6% during the 1st 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 bought a new stake in shares of nCino during the 4th quarter valued at about $171,000. 94.76% of the stock is 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.