Stephens Forecasts Strong Price Appreciation for nCino (NASDAQ:NCNO) Stock

nCino (NASDAQ:NCNO) had its price target increased by Stephens from $24.00 to $28.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Stephens’ price target points to a potential upside of 5.03% from the company’s current price.

Other analysts have also recently issued research reports about the company. UBS Group set a $40.00 price objective on nCino in a research note on Friday, March 28th. Keefe, Bruyette & Woods cut their price objective on nCino from $40.00 to $28.00 and set an “outperform” rating on the stock in a research note on Thursday, April 3rd. Truist Financial cut nCino from a “buy” rating to a “hold” rating and cut their price objective for the company from $44.00 to $21.00 in a research note on Wednesday, April 2nd. Barclays cut their price objective on nCino from $44.00 to $24.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Finally, Bank of America upped their price objective on nCino from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, April 10th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, nCino has an average rating of “Hold” and an average target price of $30.53.

nCino Trading Up 4.6%

Shares of NCNO opened at $26.66 on Wednesday. The company has a market capitalization of $3.07 billion, a P/E ratio of -156.81, a P/E/G ratio of 5.77 and a beta of 0.71. nCino has a one year low of $18.75 and a one year high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50-day moving average price of $24.68 and a 200 day moving average price of $31.45.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The business had revenue of $141.37 million during the quarter, compared to analysts’ expectations of $140.81 million. During the same period in the prior year, the company posted $0.21 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts forecast that nCino will post 0.12 EPS for the current fiscal year.

nCino announced that its Board of Directors has authorized a share repurchase program on Tuesday, April 1st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at nCino

In related news, CFO Gregory Orenstein sold 12,101 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $252,426.86. Following the sale, the chief financial officer now directly owns 259,643 shares in the company, valued at $5,416,152.98. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sean Desmond sold 12,339 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $23.00, for a total value of $283,797.00. Following the completion of the sale, the chief executive officer now owns 637,405 shares in the company, valued at approximately $14,660,315. This represents a 1.90% decrease in their ownership of the stock. 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 three months. 28.40% of the stock is owned by company insiders.

Institutional Trading of nCino

Several large investors have recently added to or reduced their stakes in NCNO. Vanguard Group Inc. boosted its stake in nCino by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 11,666,955 shares of the company’s stock valued at $320,491,000 after purchasing an additional 836,182 shares in the last quarter. Wasatch Advisors LP boosted its stake in nCino by 171.9% during the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock valued at $207,450,000 after purchasing an additional 3,905,802 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in nCino by 50.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,867,463 shares of the company’s stock valued at $133,710,000 after purchasing an additional 1,626,446 shares in the last quarter. Capital International Investors boosted its stake in nCino by 57.4% during the 4th quarter. Capital International Investors now owns 4,691,204 shares of the company’s stock valued at $157,531,000 after purchasing an additional 1,710,893 shares in the last quarter. Finally, Soma Equity Partners LP boosted its stake in nCino by 5.7% during the 4th quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company’s stock valued at $97,976,000 after purchasing an additional 156,238 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.