nCino (NASDAQ:NCNO) Given New $35.00 Price Target at JMP Securities

nCino (NASDAQ:NCNO) had its target price upped by JMP Securities from $32.00 to $35.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a market outperform rating on the stock.

NCNO has been the subject of a number of other reports. Truist Financial lifted their price target on shares of nCino from $21.00 to $27.00 and gave the company a “hold” rating in a research report on Thursday, May 29th. Stephens upped their price objective on nCino from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 21st. Barclays reiterated an “overweight” rating and issued a $31.00 target price (up previously from $24.00) on shares of nCino in a research report on Thursday, May 29th. Keefe, Bruyette & Woods increased their target price on shares of nCino from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. Finally, UBS Group set a $28.00 price target on shares of nCino in a report on Thursday, May 29th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.00.

nCino Stock Down 0.6%

NCNO stock opened at $27.16 on Monday. The firm’s 50-day moving average is $24.33 and its two-hundred day moving average is $30.14. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -159.76, a price-to-earnings-growth ratio of 5.77 and a beta of 0.76. nCino has a 52 week low of $18.75 and a 52 week high of $43.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). The business 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 period in the prior year, the firm earned $0.21 EPS. On average, analysts forecast that nCino will post 0.12 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other news, Director Pierre Naude sold 31,123 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $649,225.78. Following the sale, the director now directly owns 1,066,090 shares in the company, valued at $22,238,637.40. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider April Rieger sold 7,881 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,397.66. Following the sale, the insider now directly owns 138,072 shares in the company, valued at $2,880,181.92. This represents a 5.40% 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 90 days. 5.70% of the stock is owned by insiders.

Hedge Funds Weigh In On nCino

Institutional investors have recently modified their holdings of the company. Wasatch Advisors LP boosted its stake in nCino by 171.9% in the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock valued at $207,450,000 after acquiring an additional 3,905,802 shares during the period. Invesco Ltd. boosted its stake in shares of nCino by 3,006.0% during the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company’s stock valued at $87,392,000 after buying an additional 2,518,707 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of nCino during the 4th quarter valued at $81,254,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of nCino by 139.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company’s stock valued at $108,834,000 after acquiring an additional 1,889,283 shares in the last quarter. Finally, Capital International Investors increased its stake in shares of nCino by 57.4% in the fourth quarter. Capital International Investors now owns 4,691,204 shares of the company’s stock worth $157,531,000 after acquiring an additional 1,710,893 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

About nCino

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.