nCino’s (NCNO) Equal Weight Rating Reiterated at Stephens

Stephens reaffirmed their equal weight rating on shares of nCino (NASDAQ:NCNO) in a research note released on Wednesday,Benzinga reports. The brokerage currently has a $38.00 price objective on the stock.

Several other brokerages have also commented on NCNO. Bank of America lowered shares of nCino from a “buy” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research note on Wednesday. UBS Group started coverage on shares of nCino in a research report on Monday, December 16th. They set a “buy” rating and a $44.00 target price on the stock. Scotiabank reaffirmed a “sector perform” rating and issued a $19.00 price target (down previously from $35.00) on shares of nCino in a research report on Wednesday. The Goldman Sachs Group downgraded nCino from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $24.00 in a research note on Wednesday. Finally, Robert W. Baird cut their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.40.

nCino Price Performance

NCNO opened at $22.59 on Wednesday. The stock has a fifty day moving average price of $31.02 and a 200 day moving average price of $34.12. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino has a 1 year low of $18.75 and a 1 year high of $43.20. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -132.87, a PEG ratio of 5.77 and a beta of 0.66.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results 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 negative net margin of 3.46% and a positive return on equity of 1.62%. The firm had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Analysts forecast that nCino will post 0.12 EPS for the current fiscal year.

nCino announced that its board has authorized a stock buyback plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other nCino news, CEO Sean Desmond sold 5,034 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $164,108.40. Following the completion of the sale, the chief executive officer now owns 306,477 shares in the company, valued at approximately $9,991,150.20. This trade represents a 1.62 % 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, insider April Rieger sold 4,325 shares of nCino stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $140,995.00. Following the sale, the insider now directly owns 145,953 shares in the company, valued at $4,758,067.80. The trade was a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,877 shares of company stock valued at $2,963,893 over the last three months. 28.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On nCino

A number of hedge funds have recently made changes to their positions in the business. Asset Management One Co. Ltd. increased its stake in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after acquiring an additional 323 shares during the period. Victory Capital Management Inc. boosted its holdings in nCino by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock valued at $407,000 after purchasing an additional 340 shares in the last quarter. Berry Wealth Group LP grew its stake in shares of nCino by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock valued at $276,000 after purchasing an additional 400 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of nCino by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock worth $772,000 after buying an additional 500 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of nCino by 1.2% during the 4th quarter. Sterling Capital Management LLC now owns 48,945 shares of the company’s stock worth $1,644,000 after buying an additional 583 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

About nCino

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.