nCino (NASDAQ:NCNO) Sets New 52-Week Low at $46.10

nCino, Inc. (NASDAQ:NCNO) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $46.10 and last traded at $46.10, with a volume of 17045 shares changing hands. The stock had previously closed at $48.05.

NCNO has been the topic of several recent analyst reports. Barclays reduced their price objective on shares of nCino from $70.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday. KeyCorp cut their price target on shares of nCino from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, December 2nd. Truist cut their price target on shares of nCino from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, December 2nd. Stephens started coverage on shares of nCino in a research note on Thursday, November 18th. They set an “overweight” rating and a $80.00 price target on the stock. Finally, Truist Securities cut their price target on shares of nCino from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, December 2nd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, nCino presently has a consensus rating of “Buy” and a consensus target price of $77.69.

The stock’s 50 day moving average price is $58.74 and its 200 day moving average price is $64.71. The company has a quick ratio of 3.62, a current ratio of 3.62 and a debt-to-equity ratio of 0.08.

nCino (NASDAQ:NCNO) last issued its earnings results on Wednesday, December 1st. The company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.02. nCino had a negative net margin of 21.89% and a negative return on equity of 9.40%. The business had revenue of $70.04 million for the quarter, compared to the consensus estimate of $66.62 million. During the same quarter last year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. As a group, sell-side analysts forecast that nCino, Inc. will post -0.5 earnings per share for the current year.

In related news, Director Jeffrey W. Lunsford sold 1,289 shares of the firm’s stock in a transaction on Wednesday, December 1st. The shares were sold at an average price of $61.17, for a total transaction of $78,848.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Pierre Naude sold 50,000 shares of the firm’s stock in a transaction on Wednesday, December 15th. The shares were sold at an average price of $55.34, for a total transaction of $2,767,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 68,617 shares of company stock worth $4,147,539. Insiders own 35.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in nCino by 9.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,202,610 shares of the company’s stock valued at $791,100,000 after purchasing an additional 1,125,981 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in nCino by 0.3% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,716,716 shares of the company’s stock worth $335,029,000 after acquiring an additional 16,142 shares in the last quarter. Vanguard Group Inc. grew its holdings in nCino by 16.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,210,780 shares of the company’s stock worth $252,309,000 after acquiring an additional 579,251 shares in the last quarter. BlackRock Inc. grew its holdings in nCino by 28.6% during the 3rd quarter. BlackRock Inc. now owns 4,192,162 shares of the company’s stock worth $297,767,000 after acquiring an additional 931,296 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in nCino by 253.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,941,111 shares of the company’s stock worth $116,312,000 after acquiring an additional 1,392,308 shares in the last quarter. 94.02% of the stock is owned by institutional investors and hedge funds.

About nCino (NASDAQ:NCNO)

nCino, Inc, a software-as-a-service company, provides cloud-based software applications for financial institutions in the United States and internationally. Its nCino Bank Operating System, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable financial institutions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.

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