nCino’s (NCNO) “Outperform” Rating Reaffirmed at Macquarie

nCino (NASDAQ:NCNO)‘s stock had its “outperform” rating restated by Macquarie in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $40.00 price objective on the stock. Macquarie’s target price indicates a potential upside of 6.52% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC cut their target price on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. JMP Securities reissued a “market outperform” rating and set a $43.00 price objective on shares of nCino in a report on Wednesday, August 28th. Stephens reaffirmed an “equal weight” rating and set a $35.00 target price on shares of nCino in a research report on Wednesday, August 28th. William Blair reiterated an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.82.

nCino Stock Up 1.6 %

Shares of nCino stock traded up $0.60 during trading on Wednesday, hitting $37.55. 1,170,051 shares of the stock traded hands, compared to its average volume of 1,078,191. The stock has a market cap of $4.32 billion, a P/E ratio of -121.13, a PEG ratio of 26.59 and a beta of 0.59. The company has a fifty day moving average price of $32.07 and a two-hundred day moving average price of $31.58. nCino has a twelve month low of $27.27 and a twelve month high of $37.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $132.40 million during the quarter, compared to analysts’ expectations of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.02) earnings per share. Equities research analysts predict that nCino will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William J. Ruh sold 10,000 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the transaction, the director now directly owns 226,201 shares in the company, valued at $8,482,537.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Jeff Horing sold 921,614 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $33.50, for a total transaction of $30,874,069.00. Following the completion of the transaction, the director now directly owns 17,552,574 shares of the company’s stock, valued at approximately $588,011,229. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Ruh sold 10,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the sale, the director now directly owns 226,201 shares in the company, valued at approximately $8,482,537.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,024,080 shares of company stock worth $177,244,658 in the last ninety days. Insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of nCino by 3.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock valued at $459,000 after acquiring an additional 508 shares during the period. First Bank & Trust lifted its holdings in nCino by 5.7% during the 2nd quarter. First Bank & Trust now owns 10,188 shares of the company’s stock valued at $320,000 after purchasing an additional 546 shares during the last quarter. Precision Wealth Strategies LLC boosted its position in nCino by 4.5% in the third quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock valued at $428,000 after buying an additional 589 shares in the last quarter. Covestor Ltd grew its stake in nCino by 29.6% during the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after buying an additional 625 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. grew its stake in nCino by 6.1% during the first quarter. Mesirow Institutional Investment Management Inc. now owns 12,422 shares of the company’s stock worth $464,000 after buying an additional 719 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

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.