nCino Inc. (NASDAQ:NCNO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of nCino Inc. (NASDAQ:NCNO) have received an average recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $25.2857.

A number of brokerages have recently issued reports on NCNO. Citizens Jmp dropped their target price on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a report on Monday, May 18th. Zacks Research raised shares of nCino from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of nCino in a report on Thursday, May 28th. Stephens dropped their target price on shares of nCino from $34.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Finally, Weiss Ratings raised shares of nCino from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th.

nCino Stock Up 1.1%

Shares of NCNO stock opened at $15.80 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s 50-day moving average is $16.06 and its 200-day moving average is $18.56. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 131.67 and a beta of 0.69. nCino has a 52-week low of $13.80 and a 52-week high of $33.92.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. The company had revenue of $149.67 million for the quarter, compared to analysts’ expectations of $147.41 million. nCino had a net margin of 2.17% and a return on equity of 6.85%. nCino’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 EPS. Sell-side analysts predict that nCino will post 0.68 EPS for the current year.

Insider Activity at nCino

In other news, CFO Gregory Orenstein sold 14,650 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $263,993.00. Following the transaction, the chief financial officer directly owned 702,293 shares of the company’s stock, valued at $12,655,319.86. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 stock in a transaction dated 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 in the company, valued at $19,974,683.46. The trade was a 3.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 172,982 shares of company stock valued at $3,032,059 over the last three months. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On nCino

Large investors have recently modified their holdings of the stock. CWM LLC raised its position in shares of 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 purchasing an additional 821 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of nCino in the fourth quarter valued at about $38,000. Farther Finance Advisors LLC raised its position in shares of nCino by 76.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock valued at $43,000 after purchasing an additional 722 shares during the period. Quarry LP raised its position in shares of nCino by 138.2% in the third quarter. Quarry LP now owns 1,701 shares of the company’s stock valued at $46,000 after purchasing an additional 987 shares during the period. Finally, Optiver Holding B.V. bought a new position in shares of nCino in the first quarter valued at about $32,000. 94.76% of the stock is owned by institutional investors.

nCino Company Profile

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.