nCino (NASDAQ:NCNO) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of nCino (NASDAQ:NCNO) in a research report released on Wednesday morning, MarketBeat.com reports. The firm issued a neutral rating and a $30.00 price objective on the stock.

A number of other brokerages have also recently weighed in on NCNO. UBS Group set a $28.00 target price on nCino in a report on Thursday, May 29th. William Blair cut nCino from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Barclays reiterated an “overweight” rating and issued a $31.00 target price (up previously from $24.00) on shares of nCino in a report on Thursday, May 29th. The Goldman Sachs Group cut nCino from a “buy” rating to a “neutral” rating and reduced their target price for the company from $42.00 to $24.00 in a report on Wednesday, April 2nd. Finally, Stephens boosted their price objective on nCino from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 21st. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, nCino presently has a consensus rating of “Hold” and a consensus price target of $30.94.

nCino Price Performance

NCNO stock opened at $26.80 on Wednesday. nCino has a 52-week low of $18.75 and a 52-week high of $43.20. The stock’s fifty day simple moving average is $24.97 and its 200-day simple moving average is $29.58. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -103.08, a price-to-earnings-growth ratio of 27.83 and a beta of 0.76.

nCino (NASDAQ:NCNO) last posted 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). nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The business had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same quarter last year, the business earned $0.21 EPS. nCino’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts expect that nCino will post 0.12 EPS for the current year.

nCino announced that its board has initiated a share buyback plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at nCino

In other nCino news, VP Jeanette Sellers sold 2,167 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $22.79, for a total value of $49,385.93. Following the completion of the sale, the vice president now owns 27,108 shares in the company, valued at approximately $617,791.32. This trade represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sean Desmond sold 12,339 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was 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 of the company’s stock, valued at $14,660,315. This represents a 1.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 141,060 shares of company stock valued at $3,101,115 in the last 90 days. 5.70% of the stock is currently owned by insiders.

Institutional Trading of nCino

Hedge funds have recently modified their holdings of the company. Johnson Financial Group Inc. bought a new stake in shares of nCino in the 4th quarter worth approximately $57,000. Covestor Ltd lifted its position in shares of nCino by 27.6% in the 1st quarter. Covestor Ltd now owns 2,388 shares of the company’s stock worth $66,000 after acquiring an additional 517 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after acquiring an additional 323 shares during the period. First Horizon Advisors Inc. lifted its position in shares of nCino by 22.5% in the 1st quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company’s stock worth $80,000 after acquiring an additional 538 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of nCino in the 1st quarter worth approximately $82,000. Institutional investors 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.