nCino (NASDAQ:NCNO) Earns “Buy” Rating from Needham & Company LLC

nCino (NASDAQ:NCNO)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $25.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 64.58% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Zacks Research raised nCino from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. Keefe, Bruyette & Woods decreased their price objective on nCino from $36.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Morgan Stanley cut their target price on shares of nCino from $36.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Stephens cut their target price on shares of nCino from $34.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Finally, The Goldman Sachs Group cut their target price on shares of nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.21.

nCino Trading Down 0.3%

Shares of NASDAQ:NCNO opened at $15.19 on Thursday. nCino has a 52-week low of $13.80 and a 52-week high of $33.92. The company has a market cap of $1.65 billion, a P/E ratio of 303.80 and a beta of 0.72. The stock’s 50-day moving average is $16.49 and its 200-day moving average is $20.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00.

nCino (NASDAQ:NCNO) last released its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. nCino had a return on equity of 4.75% and a net margin of 0.87%.The business had revenue of $149.67 million for the quarter, compared to the consensus estimate of $147.41 million. During the same period last year, the business earned $0.12 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities research analysts predict that nCino will post 0.52 earnings per share for the current year.

Insider Activity

In other news, insider April Rieger sold 9,693 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $174,667.86. Following the completion of the transaction, the insider owned 383,601 shares of the company’s stock, valued at $6,912,490.02. The trade was a 2.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 35,650 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $642,413.00. Following the completion of the transaction, the director directly owned 1,108,473 shares of the company’s stock, valued at $19,974,683.46. This trade represents a 3.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 164,918 shares of company stock worth $2,900,939. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On nCino

Several institutional investors and hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC grew its holdings in shares of nCino by 15.9% in the 4th quarter. FNY Investment Advisers LLC now owns 3,228 shares of the company’s stock valued at $82,000 after buying an additional 444 shares during the period. US Bancorp DE boosted its stake in nCino by 1.6% in the 3rd quarter. US Bancorp DE now owns 32,042 shares of the company’s stock worth $869,000 after purchasing an additional 501 shares during the period. Lecap Asset Management Ltd. boosted its stake in nCino by 2.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 31,163 shares of the company’s stock worth $799,000 after purchasing an additional 691 shares during the period. Farther Finance Advisors LLC boosted its stake in nCino by 76.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after purchasing an additional 722 shares during the period. Finally, Captrust Financial Advisors boosted its stake in nCino by 1.2% in the 3rd quarter. Captrust Financial Advisors now owns 62,747 shares of the company’s stock worth $1,701,000 after purchasing an additional 743 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

About nCino

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.