The Goldman Sachs Group Issues Pessimistic Forecast for nCino (NASDAQ:NCNO) Stock Price

nCino (NASDAQ:NCNOGet Free Report) had its price target dropped by analysts at The Goldman Sachs Group from $28.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 40.35% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Truist Financial lowered their target price on shares of nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nCino in a research report on Thursday, January 22nd. Stephens lowered their price objective on nCino from $34.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday. Piper Sandler raised nCino from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $30.00 to $22.00 in a research note on Wednesday. Finally, BTIG Research initiated coverage on nCino in a report on Tuesday, December 16th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.07.

Check Out Our Latest Analysis on nCino

nCino Price Performance

NASDAQ NCNO opened at $17.10 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.96 billion, a PE ratio of 342.00, a price-to-earnings-growth ratio of 3.25 and a beta of 0.61. nCino has a 12-month low of $13.80 and a 12-month high of $33.92. The company has a 50 day moving average price of $17.05 and a two-hundred day moving average price of $22.72.

nCino (NASDAQ:NCNOGet Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.21 by $0.16. The company had revenue of $149.67 million for the quarter, compared to analyst estimates of $147.41 million. nCino had a net margin of 0.87% and a return on equity of 4.75%. nCino’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.12 EPS. As a group, equities analysts predict that nCino will post 0.12 earnings per share for the current fiscal year.

nCino announced that its Board of Directors has approved a share buyback program on Monday, December 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 3.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at nCino

In related news, insider April Rieger sold 8,078 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $150,897.04. Following the completion of the transaction, the insider directly owned 221,696 shares of the company’s stock, valued at $4,141,281.28. This trade represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jeanette Sellers sold 2,182 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $18.26, for a total value of $39,843.32. Following the completion of the transaction, the senior vice president directly owned 43,219 shares of the company’s stock, valued at approximately $789,178.94. This trade represents a 4.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 69,803 shares of company stock worth $1,345,743 in the last three months. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On nCino

A number of hedge funds have recently made changes to their positions in NCNO. Farther Finance Advisors LLC lifted its holdings in shares of nCino by 186.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock worth $26,000 after acquiring an additional 617 shares during the period. CWM LLC increased its stake in nCino by 255.8% in the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares during the period. Advisors Asset Management Inc. raised its position in nCino by 68.5% in the second quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock worth $32,000 after purchasing an additional 458 shares in the last quarter. AlphaQuest LLC lifted its stake in nCino by 5,022.2% during the third quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock worth $37,000 after purchasing an additional 1,356 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in nCino during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

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About nCino

(Get Free Report)

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.

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