nCino, Inc. (NASDAQ:NCNO) Given Average Recommendation of “Hold” by Analysts

nCino, Inc. (NASDAQ:NCNO) has been assigned an average rating of “Hold” from the seventeen brokerages that are covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $30.40.

Several equities analysts have issued reports on the company. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. Bank of America raised their price target on nCino from $22.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, April 10th. William Blair cut nCino from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Needham & Company LLC lowered their target price on shares of nCino from $45.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group set a $40.00 price target on shares of nCino in a research note on Friday, March 28th.

Insiders Place Their Bets

In other nCino news, CFO Gregory Orenstein sold 5,148 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $167,824.80. Following the completion of the transaction, the chief financial officer now directly owns 271,744 shares of the company’s stock, valued at approximately $8,858,854.40. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider April Rieger sold 4,325 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $140,995.00. Following the sale, the insider now directly owns 145,953 shares in the company, valued at $4,758,067.80. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,012 shares of company stock worth $2,694,676. Corporate insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

Several hedge funds and other institutional investors have recently bought and sold shares of NCNO. Fifth Third Bancorp purchased a new stake in shares of nCino in the 4th quarter worth about $34,000. Hilltop National Bank acquired a new stake in shares of nCino in the fourth quarter valued at approximately $37,000. Johnson Financial Group Inc. purchased a new position in shares of nCino during the 4th quarter worth approximately $57,000. Asset Management One Co. Ltd. raised its position in shares of nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after purchasing an additional 323 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in nCino by 22.5% in the 1st quarter. First Horizon Advisors Inc. now owns 2,924 shares of the company’s stock valued at $80,000 after buying an additional 538 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Price Performance

Shares of NASDAQ NCNO opened at $23.20 on Thursday. The stock’s 50-day simple moving average is $26.53 and its 200-day simple moving average is $32.88. The firm has a market capitalization of $2.70 billion, a PE ratio of -136.46, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. nCino has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The company had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same period in the previous year, the business posted $0.21 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts forecast that nCino will post 0.12 EPS for the current fiscal year.

nCino announced that its board has approved a share repurchase plan on Tuesday, April 1st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.