Analysts Set nCino, Inc. (NASDAQ:NCNO) PT at $79.58

nCino, Inc. (NASDAQ:NCNO) has earned a consensus recommendation of “Buy” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $79.58.

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective on shares of nCino from $75.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, September 2nd. Piper Sandler increased their price objective on shares of nCino from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, September 2nd. William Blair started coverage on shares of nCino in a research report on Friday, July 16th. They set an “outperform” rating and a $63.63 price target on the stock. Barrington Research raised their price target on shares of nCino from $75.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 2nd. Finally, Zacks Investment Research raised shares of nCino from a “sell” rating to a “hold” rating in a research report on Wednesday, August 4th.

NASDAQ NCNO traded up $0.35 on Friday, hitting $74.88. 9,947 shares of the stock were exchanged, compared to its average volume of 949,063. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.96 and a quick ratio of 2.96. The business’s fifty day moving average is $68.81 and its 200 day moving average is $65.28. nCino has a 52 week low of $48.00 and a 52 week high of $90.22. The company has a market capitalization of $7.20 billion, a PE ratio of -145.54 and a beta of 1.88.

nCino (NASDAQ:NCNO) last posted its quarterly earnings results on Tuesday, August 31st. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. The firm had revenue of $66.50 million for the quarter, compared to analyst estimates of $63.72 million. nCino had a negative net margin of 21.39% and a negative return on equity of 8.95%. nCino’s revenue for the quarter was up 36.3% compared to the same quarter last year. Analysts predict that nCino will post -0.54 EPS for the current fiscal year.

In related news, insider Joshua L. Glover sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 11th. The shares were sold at an average price of $69.79, for a total value of $1,395,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeanette Sellers sold 997 shares of the firm’s stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $63.33, for a total transaction of $63,140.01. Following the completion of the transaction, the vice president now owns 6,281 shares of the company’s stock, valued at approximately $397,775.73. The disclosure for this sale can be found here. Insiders have sold 199,969 shares of company stock worth $14,470,635 over the last quarter. Corporate insiders own 35.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its holdings in nCino by 87.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 437 shares of the company’s stock worth $26,000 after purchasing an additional 204 shares during the last quarter. Advisory Services Network LLC acquired a new stake in nCino in the 2nd quarter valued at $27,000. Captrust Financial Advisors grew its position in nCino by 146.5% in the 1st quarter. Captrust Financial Advisors now owns 493 shares of the company’s stock valued at $33,000 after purchasing an additional 293 shares during the period. The PNC Financial Services Group Inc. grew its position in nCino by 3,418.8% in the 1st quarter. The PNC Financial Services Group Inc. now owns 563 shares of the company’s stock valued at $37,000 after purchasing an additional 547 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in nCino in the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

About nCino

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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Analyst Recommendations for nCino (NASDAQ:NCNO)

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