nCino, Inc. (NASDAQ:NCNO – Get Free Report)’s stock price gapped down before the market opened on Thursday after Robert W. Baird lowered their price target on the stock from $37.00 to $36.00. The stock had previously closed at $30.15, but opened at $28.52. Robert W. Baird currently has a neutral rating on the stock. nCino shares last traded at $29.20, with a volume of 227,262 shares traded.
Other analysts have also issued research reports about the company. William Blair restated an “outperform” rating on shares of nCino in a report on Wednesday, March 27th. Piper Sandler reduced their price objective on shares of nCino from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday. Morgan Stanley raised their target price on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods began coverage on nCino in a research report on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 target price on shares of nCino in a research report on Thursday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.64.
Insider Activity at nCino
In related news, Director William J. Ruh sold 5,000 shares of nCino stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $34.51, for a total value of $172,550.00. Following the completion of the transaction, the director now owns 251,201 shares in the company, valued at approximately $8,668,946.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other nCino news, VP Jeanette Sellers sold 2,153 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $30.33, for a total transaction of $65,300.49. Following the transaction, the vice president now directly owns 27,360 shares of the company’s stock, valued at $829,828.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William J. Ruh sold 5,000 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $34.51, for a total transaction of $172,550.00. Following the sale, the director now directly owns 251,201 shares of the company’s stock, valued at approximately $8,668,946.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,114,061 shares of company stock worth $39,096,813. 28.40% of the stock is owned by company insiders.
Institutional Trading of nCino
Large investors have recently made changes to their positions in the company. Untitled Investments LP grew its position in shares of nCino by 3.0% in the first quarter. Untitled Investments LP now owns 891,248 shares of the company’s stock valued at $33,315,000 after purchasing an additional 26,260 shares in the last quarter. Washington Harbour Partners LP boosted its stake in nCino by 17.1% during the first quarter. Washington Harbour Partners LP now owns 68,604 shares of the company’s stock worth $2,564,000 after buying an additional 10,000 shares during the last quarter. Motley Fool Asset Management LLC purchased a new stake in nCino in the 1st quarter valued at $1,196,000. Silvercrest Asset Management Group LLC increased its stake in shares of nCino by 18.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 454,249 shares of the company’s stock worth $16,980,000 after acquiring an additional 71,744 shares during the last quarter. Finally, Bamco Inc. NY raised its holdings in shares of nCino by 83.7% during the 1st quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock worth $34,576,000 after acquiring an additional 421,500 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.
nCino Stock Performance
The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.17 and a current ratio of 1.17. The firm’s 50-day moving average price is $31.67 and its two-hundred day moving average price is $31.30. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of -79.24, a PEG ratio of 25.30 and a beta of 0.57.
nCino (NASDAQ:NCNO – Get Free Report) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. nCino had a negative net margin of 8.89% and a positive return on equity of 0.31%. The business had revenue of $123.69 million during the quarter, compared to the consensus estimate of $124.58 million. On average, analysts expect that nCino, Inc. will post 0.05 EPS for the current fiscal year.
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.