nCino (NASDAQ:NCNO) Stock Rating Reaffirmed by Truist Financial

nCino (NASDAQ:NCNO)‘s stock had its “buy” rating reaffirmed by investment analysts at Truist Financial in a report released on Monday, Benzinga reports. They currently have a $44.00 price objective on the stock, up from their previous price objective of $37.00. Truist Financial’s price objective would suggest a potential upside of 19.08% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Piper Sandler reiterated an “overweight” rating and set a $38.00 target price on shares of nCino in a research note on Wednesday, August 28th. William Blair reiterated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. JMP Securities reiterated a “market outperform” rating and set a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Stephens reiterated an “equal weight” rating and set a $35.00 target price on shares of nCino in a research note on Wednesday, August 28th. Finally, Macquarie reiterated an “outperform” rating and set a $40.00 target price on shares of nCino in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.82.

nCino Price Performance

NASDAQ:NCNO opened at $36.95 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average price is $31.98 and its two-hundred day moving average price is $31.56. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of -119.19, a P/E/G ratio of 26.59 and a beta of 0.59. nCino has a 12-month low of $27.13 and a 12-month high of $37.86.

nCino (NASDAQ:NCNO) last released its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.02) earnings per share. On average, analysts anticipate that nCino will post 0.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $35.05, for a total transaction of $136,169.25. Following the sale, the chief financial officer now owns 276,892 shares of the company’s stock, valued at $9,705,064.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the sale, the chief financial officer now owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeff Horing sold 1,833,975 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50. Following the completion of the sale, the director now directly owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,014,080 shares of company stock valued at $176,869,658 over the last 90 days. 28.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of nCino by 8.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock valued at $244,766,000 after acquiring an additional 635,064 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of nCino by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock valued at $266,247,000 after acquiring an additional 148,390 shares during the last quarter. Long Path Partners LP lifted its stake in shares of nCino by 151.1% in the 2nd quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock valued at $81,460,000 after acquiring an additional 1,558,529 shares during the last quarter. Meritage Group LP lifted its stake in shares of nCino by 2.3% in the 1st quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock valued at $65,451,000 after acquiring an additional 39,828 shares during the last quarter. Finally, Capital International Investors bought a new position in shares of nCino in the 1st quarter valued at $60,703,000. 94.76% of the stock is currently owned by institutional investors.

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.