nCino’s (NCNO) Outperform Rating Reiterated at Raymond James Financial

Raymond James Financial restated their outperform rating on shares of nCino (NASDAQ:NCNO) in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a $35.00 price objective on the stock, up from their prior price objective of $32.00.

NCNO has been the topic of a number of other research reports. Scotiabank reiterated a “sector perform” rating and issued a $26.00 target price (up previously from $19.00) on shares of nCino in a research report on Wednesday, May 21st. Stephens increased their price objective on shares of nCino from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 21st. Truist Financial boosted their target price 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. William Blair lowered shares of nCino from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price target on shares of nCino in a research report on Thursday, May 29th. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.13.

nCino Price Performance

nCino stock opened at $27.92 on Tuesday. The firm has a market capitalization of $3.24 billion, a PE ratio of -107.38, a price-to-earnings-growth ratio of 29.21 and a beta of 0.77. The firm has a 50-day moving average price of $28.15 and a 200-day moving average price of $28.17. nCino has a 12-month low of $18.75 and a 12-month high of $43.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.24.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $144.14 million during the quarter, compared to the consensus estimate of $139.77 million. nCino had a positive return on equity of 0.19% and a negative net margin of 5.27%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. As a group, equities research analysts forecast that nCino will post 0.12 EPS for the current year.

Insider Activity

In related news, VP Jeanette Sellers sold 2,167 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $22.79, for a total value of $49,385.93. Following the sale, the vice president owned 27,108 shares of the company’s stock, valued at $617,791.32. The trade was a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new stake in nCino during the 4th quarter worth $608,000. Vanguard Group Inc. grew its stake in shares of nCino by 9.6% during the fourth quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock worth $363,697,000 after purchasing an additional 948,282 shares during the period. Norges Bank acquired a new stake in shares of nCino during the fourth quarter worth $29,268,000. Arrowstreet Capital Limited Partnership bought a new stake in nCino in the fourth quarter valued at about $3,533,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in nCino in the fourth quarter valued at about $1,098,000. 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.