nCino (NASDAQ:NCNO) Price Target Raised to $28.00 at Stephens

nCino (NASDAQ:NCNO) had its price objective boosted by analysts at Stephens from $24.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Stephens’ target price points to a potential upside of 8.49% from the company’s previous close.

NCNO has been the topic of several other research reports. Barclays reduced their price target on nCino from $44.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Truist Financial downgraded shares of nCino from a “buy” rating to a “hold” rating and reduced their target price for the stock from $44.00 to $21.00 in a research note on Wednesday, April 2nd. The Goldman Sachs Group lowered shares of nCino from a “buy” rating to a “neutral” rating and decreased their target price for the company from $42.00 to $24.00 in a report on Wednesday, April 2nd. KeyCorp restated a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. Finally, Bank of America lifted their price target on shares of nCino from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, April 10th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.73.

nCino Stock Up 4.3%

NCNO stock opened at $25.81 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $24.77 and a two-hundred day moving average of $31.56. nCino has a 12 month low of $18.75 and a 12 month high of $43.20. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -151.81, a PEG ratio of 5.77 and a beta of 0.71.

nCino (NASDAQ:NCNO) last posted its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $141.37 million during the quarter, compared to analysts’ expectations of $140.81 million. During the same quarter last year, the company earned $0.21 earnings per share. nCino’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts forecast that nCino will post 0.12 earnings per share for the current fiscal year.

nCino declared that its board has approved a stock repurchase program on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, VP Jeanette Sellers sold 2,167 shares of nCino stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $22.79, for a total value of $49,385.93. Following the completion of the transaction, the vice president now owns 27,108 shares in the company, valued at approximately $617,791.32. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pierre Naude sold 31,123 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $649,225.78. Following the sale, the director now owns 1,066,090 shares in the company, valued at approximately $22,238,637.40. This trade represents a 2.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,060 shares of company stock valued at $3,101,115. 28.40% of the stock is currently owned by corporate insiders.

Institutional Trading of nCino

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in nCino by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 11,666,955 shares of the company’s stock worth $320,491,000 after purchasing an additional 836,182 shares during the period. Wasatch Advisors LP grew its position in shares of nCino by 171.9% during the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock worth $207,450,000 after buying an additional 3,905,802 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of nCino by 50.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,867,463 shares of the company’s stock worth $133,710,000 after buying an additional 1,626,446 shares during the period. Capital International Investors lifted its stake in nCino by 57.4% in the fourth quarter. Capital International Investors now owns 4,691,204 shares of the company’s stock worth $157,531,000 after acquiring an additional 1,710,893 shares during the last quarter. Finally, Soma Equity Partners LP grew its holdings in nCino by 5.7% during the 4th quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company’s stock worth $97,976,000 after acquiring an additional 156,238 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.