Piper Sandler Reiterates Overweight Rating for nCino (NASDAQ:NCNO)

nCino (NASDAQ:NCNO)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a report released on Monday, Benzinga reports. They presently have a $38.00 price target on the stock. Piper Sandler’s target price indicates a potential upside of 20.83% from the stock’s current price.

Other research analysts have also issued reports about the company. Robert W. Baird reduced their price target on nCino from $37.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Needham & Company LLC restated a “buy” rating and issued a $42.00 price target on shares of nCino in a research report on Thursday, May 30th. Keefe, Bruyette & Woods began coverage on nCino in a report on Tuesday, April 9th. They set an “outperform” rating and a $41.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of nCino in a report on Wednesday, June 26th. Finally, Stephens reiterated an “equal weight” rating and set a $35.00 target price on shares of nCino in a report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.64.

nCino Stock Performance

Shares of NCNO stock opened at $31.45 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.07 and a quick ratio of 1.07. nCino has a fifty-two week low of $27.13 and a fifty-two week high of $37.48. The stock’s 50-day moving average is $30.79 and its two-hundred day moving average is $31.56. The firm has a market cap of $3.62 billion, a P/E ratio of -101.45, a PEG ratio of 17.16 and a beta of 0.59.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Wednesday, May 29th. The company reported $0.05 EPS for the quarter. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. The company had revenue of $128.09 million during the quarter, compared to the consensus estimate of $126.59 million. Analysts predict that nCino will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sean Desmond sold 5,988 shares of nCino stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total value of $180,538.20. Following the transaction, the insider now owns 370,790 shares in the company, valued at approximately $11,179,318.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other nCino news, Director Spencer Lake sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now owns 7,791 shares in the company, valued at $275,022.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sean Desmond sold 5,988 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $30.15, for a total transaction of $180,538.20. Following the completion of the sale, the insider now owns 370,790 shares in the company, valued at approximately $11,179,318.50. The disclosure for this sale can be found here. Insiders have sold a total of 2,291,001 shares of company stock worth $72,225,056 in the last 90 days. 28.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On nCino

Several institutional investors and hedge funds have recently added to or reduced their stakes in NCNO. Capital International Investors bought a new position in nCino in the first quarter worth approximately $60,703,000. Norges Bank bought a new stake in shares of nCino during the 4th quarter valued at $25,336,000. Clearbridge Investments LLC raised its position in shares of nCino by 96.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,072,724 shares of the company’s stock valued at $36,076,000 after purchasing an additional 525,605 shares during the period. Norden Group LLC raised its position in shares of nCino by 2,388.5% during the 1st quarter. Norden Group LLC now owns 454,665 shares of the company’s stock valued at $16,995,000 after purchasing an additional 436,394 shares during the period. Finally, Bamco Inc. NY raised its position in shares of nCino by 83.7% during the 1st quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock valued at $34,576,000 after purchasing an additional 421,500 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Company Profile

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.