nCino, Inc. (NASDAQ:NCNO – Get Free Report) gapped down prior to trading on Wednesday after Needham & Company LLC lowered their price target on the stock from $42.00 to $40.00. The stock had previously closed at $34.53, but opened at $29.75. Needham & Company LLC currently has a buy rating on the stock. nCino shares last traded at $30.01, with a volume of 1,910,063 shares trading hands.
Several other equities research analysts also recently weighed in on NCNO. The Goldman Sachs Group upgraded shares of nCino from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. Macquarie reaffirmed an “outperform” rating and set a $40.00 price objective on shares of nCino in a research report on Tuesday, August 6th. JMP Securities started coverage on nCino in a report on Monday, July 22nd. They issued an “outperform” rating and a $43.00 target price on the stock. Stephens restated an “equal weight” rating and set a $35.00 price target on shares of nCino in a research note on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $38.00 price objective on shares of nCino in a research report on Monday, July 1st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.15.
Insider Transactions at nCino
In related news, Director Jeff Horing sold 800,002 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $33.16, for a total value of $26,528,066.32. Following the completion of the sale, the director now owns 16,649,942 shares in the company, valued at $552,112,076.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jeff Horing sold 800,002 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $33.16, for a total value of $26,528,066.32. Following the sale, the director now owns 16,649,942 shares in the company, valued at approximately $552,112,076.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Insight Holdings Group, Llc sold 1,981,514 shares of nCino stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $31.08, for a total value of $61,585,455.12. Following the transaction, the director now directly owns 1,545,347 shares of the company’s stock, valued at $48,029,384.76. The disclosure for this sale can be found here. Insiders have sold a total of 6,642,425 shares of company stock valued at $212,241,592 in the last ninety days. 28.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On nCino
Large investors have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new stake in nCino during the 2nd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. purchased a new stake in nCino during the 1st quarter worth about $52,000. Covestor Ltd raised its stake in nCino by 29.6% in the 1st quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after purchasing an additional 625 shares during the last quarter. Amalgamated Bank lifted its holdings in nCino by 28.1% in the 2nd quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock valued at $163,000 after purchasing an additional 1,134 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of nCino by 145.6% during the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after purchasing an additional 2,677 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.
nCino Trading Down 13.9 %
The business’s fifty day moving average price is $32.34 and its 200 day moving average price is $31.45. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $3.42 billion, a PE ratio of -97.65, a P/E/G ratio of 17.54 and a beta of 0.59.
nCino (NASDAQ:NCNO – Get Free Report) last announced its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. nCino had a negative net margin of 6.94% and a positive return on equity of 1.13%. nCino’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.02) earnings per share. As a group, analysts expect that nCino, Inc. will post 0.08 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.