nCino, Inc. (NASDAQ:NCNO) Receives $53.26 Consensus Target Price from Analysts

nCino, Inc. (NASDAQ:NCNO – Get Rating) has received an average rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $53.26.

A number of research analysts have issued reports on the company. Morgan Stanley reduced their price target on nCino from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, June 2nd. KeyCorp reduced their price target on nCino from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, June 2nd. Stephens reduced their price target on nCino to $40.00 in a research report on Friday, June 3rd. Piper Sandler reduced their price target on nCino from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, June 2nd. Finally, Barclays boosted their price target on nCino from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 2nd.

NASDAQ:NCNO opened at $32.64 on Thursday. nCino has a 12-month low of $23.94 and a 12-month high of $79.43. The firm has a market capitalization of $3.60 billion, a P/E ratio of -51.81 and a beta of 0.91. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.62 and a quick ratio of 3.62. The business has a 50 day simple moving average of $33.92 and a 200 day simple moving average of $42.93.

nCino (NASDAQ:NCNO – Get Rating) last released its quarterly earnings data on Wednesday, June 1st. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). nCino had a negative net margin of 21.30% and a negative return on equity of 13.52%. The company had revenue of $94.21 million for the quarter, compared to analyst estimates of $91.42 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The company’s revenue for the quarter was up 51.1% compared to the same quarter last year. Research analysts anticipate that nCino will post -0.7 EPS for the current fiscal year.

In other news, insider Joshua L. Glover sold 1,663 shares of the company’s stock in a transaction on Wednesday, April 6th. The stock was sold at an average price of $43.63, for a total value of $72,556.69. Following the completion of the sale, the insider now owns 228,255 shares in the company, valued at $9,958,765.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jeanette Sellers sold 1,830 shares of the business’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $34.55, for a total value of $63,226.50. Following the sale, the vice president now directly owns 26,110 shares in the company, valued at $902,100.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 235,478 shares of company stock valued at $9,003,239. Insiders own 37.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in NCNO. Hsbc Holdings PLC raised its position in shares of nCino by 25.3% during the third quarter. Hsbc Holdings PLC now owns 4,799 shares of the company’s stock worth $341,000 after purchasing an additional 968 shares during the period. Franklin Resources Inc. raised its position in shares of nCino by 79.4% during the third quarter. Franklin Resources Inc. now owns 14,888 shares of the company’s stock worth $1,057,000 after purchasing an additional 6,591 shares during the period. Neuberger Berman Group LLC raised its position in shares of nCino by 20.5% during the third quarter. Neuberger Berman Group LLC now owns 23,351 shares of the company’s stock worth $1,659,000 after purchasing an additional 3,966 shares during the period. Dark Forest Capital Management LP acquired a new position in nCino during the third quarter valued at $401,000. Finally, Voya Investment Management LLC raised its position in nCino by 11.3% during the third quarter. Voya Investment Management LLC now owns 23,391 shares of the company’s stock valued at $1,661,000 after buying an additional 2,379 shares during the period.

nCino Company Profile (Get Rating)

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, 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 banks and credit unions 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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