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

Shares of nCino, Inc. (NASDAQ:NCNO) have been given an average rating of “Hold” by the seventeen research firms that are presently covering the stock, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $30.80.

Several equities research analysts have recently issued reports on NCNO shares. KeyCorp restated a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Scotiabank reaffirmed a “sector perform” rating and issued a $26.00 price objective (up from $19.00) on shares of nCino in a report on Wednesday, May 21st. William Blair downgraded shares of nCino from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Raymond James cut their price target on shares of nCino from $42.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Finally, UBS Group set a $40.00 price objective on shares of nCino in a report on Friday, March 28th.

Insider Transactions at nCino

In related news, CFO Gregory Orenstein sold 12,101 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $252,426.86. Following the transaction, the chief financial officer now owns 259,643 shares in the company, valued at $5,416,152.98. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider April Rieger sold 7,881 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $164,397.66. Following the transaction, the insider now owns 138,072 shares in the company, valued at approximately $2,880,181.92. This trade represents a 5.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,060 shares of company stock worth $3,101,115. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC bought a new position in nCino during the fourth quarter valued at approximately $70,256,000. Amundi lifted its position in nCino by 312.1% during the fourth quarter. Amundi now owns 6,004 shares of the company’s stock valued at $201,000 after purchasing an additional 4,547 shares during the period. Barclays PLC raised its position in nCino by 22.2% in the third quarter. Barclays PLC now owns 73,014 shares of the company’s stock worth $2,306,000 after acquiring an additional 13,252 shares during the period. KBC Group NV raised its position in nCino by 3,082.1% in the fourth quarter. KBC Group NV now owns 75,988 shares of the company’s stock worth $2,552,000 after acquiring an additional 73,600 shares during the period. Finally, Northern Trust Corp raised its position in nCino by 14.1% in the fourth quarter. Northern Trust Corp now owns 612,902 shares of the company’s stock worth $20,581,000 after acquiring an additional 75,592 shares during the period. Institutional investors own 94.76% of the company’s stock.

nCino Trading Down 1.5%

NASDAQ:NCNO opened at $26.26 on Monday. 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 firm has a market cap of $3.03 billion, a price-to-earnings ratio of -154.46, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. nCino has a 52 week low of $18.75 and a 52 week high of $43.20. The firm has a 50-day moving average price of $24.63 and a two-hundred day moving average price of $31.23.

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

nCino declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 1st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.