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 report released on Tuesday morning,Benzinga reports. They currently have a $32.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Barclays cut their target price on nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Truist Financial downgraded 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 report on Wednesday, April 2nd. KeyCorp reiterated a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. UBS Group set a $40.00 price objective on nCino in a research report on Friday, March 28th. Finally, Piper Sandler cut their price objective on nCino from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.07.

nCino Stock Performance

NCNO opened at $26.98 on Tuesday. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of -158.70, a price-to-earnings-growth ratio of 5.77 and a beta of 0.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino has a 1-year low of $18.75 and a 1-year high of $43.20. The business has a 50 day moving average price of $24.55 and a two-hundred day moving average price of $31.09.

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

nCino declared that its Board of Directors has authorized 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 repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other nCino news, CEO Sean Desmond sold 7,880 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $164,376.80. Following the transaction, the chief executive officer now directly owns 298,597 shares of the company’s stock, valued at $6,228,733.42. This represents a 2.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gregory Orenstein sold 12,101 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $252,426.86. Following the completion of the transaction, the chief financial officer now directly owns 259,643 shares in the company, valued at approximately $5,416,152.98. The trade was a 4.45% 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 valued at $3,101,115 in the last three months. Insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Asset Management One Co. Ltd. increased its holdings in shares of nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after acquiring an additional 323 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of nCino by 2.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock valued at $407,000 after acquiring an additional 340 shares during the last quarter. Berry Wealth Group LP increased its holdings in shares of nCino by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock valued at $276,000 after acquiring an additional 400 shares during the last quarter. Advisors Capital Management LLC increased its holdings in shares of nCino by 0.7% during the 1st quarter. Advisors Capital Management LLC now owns 66,270 shares of the company’s stock valued at $1,820,000 after acquiring an additional 479 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of nCino by 2.2% during the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock valued at $772,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.