Shares of nCino, Inc. (NASDAQ:NCNO – Get Rating) have been assigned a consensus rating of "Moderate Buy" from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $36.27.
A number of equities analysts recently issued reports on the company. Morgan Stanley lowered their price target on nCino from $50.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, December 1st. Needham & Company LLC lowered their target price on nCino from $42.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, December 1st. Robert W. Baird upgraded nCino from a "neutral" rating to an "outperform" rating and set a $35.00 price target for the company in a research note on Wednesday, December 14th. Scotiabank started coverage on shares of nCino in a research report on Monday, October 31st. They issued a "sector outperform" rating and a $42.00 price objective on the stock. Finally, Piper Sandler cut their price objective on shares of nCino from $35.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, January 9th.
Get nCino alerts:nCino Trading Up 3.6 %
Shares of NASDAQ NCNO opened at $31.04 on Friday. The stock has a market cap of $3.45 billion, a P/E ratio of -38.32 and a beta of 0.36. nCino has a twelve month low of $22.97 and a twelve month high of $55.40. The stock has a 50 day moving average of $26.47 and a two-hundred day moving average of $30.16.
nCino (NASDAQ:NCNO – Get Rating) last released its quarterly earnings results on Wednesday, November 30th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.01. nCino had a negative net margin of 23.69% and a negative return on equity of 15.41%. The firm had revenue of $105.30 million during the quarter, compared to the consensus estimate of $103.45 million. As a group, research analysts predict that nCino will post -0.63 earnings per share for the current year.Insiders Place Their Bets
In other news, insider Matthew Royce Hansen sold 6,134 shares of the stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $26.16, for a total value of $160,465.44. Following the completion of the transaction, the insider now owns 148,425 shares in the company, valued at approximately $3,882,798. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 37.20% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in NCNO. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of nCino by 32.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,774,524 shares of the company's stock worth $196,969,000 after acquiring an additional 1,430,585 shares in the last quarter. Vanguard Group Inc. raised its holdings in nCino by 19.5% during the third quarter. Vanguard Group Inc. now owns 6,996,554 shares of the company's stock worth $238,653,000 after purchasing an additional 1,143,370 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in nCino by 7.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 10,806,891 shares of the company's stock worth $334,149,000 after purchasing an additional 733,676 shares in the last quarter. BlackRock Inc. grew its holdings in nCino by 29.4% in the third quarter. BlackRock Inc. now owns 3,095,956 shares of the company's stock valued at $105,602,000 after purchasing an additional 704,230 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of nCino by 62.7% in the second quarter. JPMorgan Chase & Co. now owns 1,640,562 shares of the company's stock valued at $50,726,000 after buying an additional 632,253 shares in the last quarter. 88.69% of the stock is currently owned by institutional investors and hedge funds.
About nCino
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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, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.
Further Reading
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