nCino, Inc. (NASDAQ:NCNO) Receives Average Recommendation of “Hold” from Brokerages

nCino, Inc. (NASDAQ:NCNO) has been given an average recommendation of “Hold” by the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $30.33.

A number of research firms have weighed in on NCNO. Bank of America cut shares of nCino from a “buy” rating to a “neutral” rating and set a $22.00 target price on the stock. in a research note on Wednesday. The Goldman Sachs Group downgraded nCino from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $24.00 in a research note on Wednesday. Piper Sandler reduced their target price on shares of nCino from $38.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday. Barclays cut their price target on shares of nCino from $44.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Needham & Company LLC decreased their price objective on nCino from $45.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday.

nCino Stock Performance

NCNO opened at $21.45 on Friday. 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 has a 52-week low of $18.75 and a 52-week high of $43.20. The firm has a market cap of $2.48 billion, a P/E ratio of -126.17, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The business’s fifty day moving average is $30.58 and its 200-day moving average is $34.00.

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

nCino announced that its board has authorized a share buyback program on Tuesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at nCino

In other nCino news, insider April Rieger sold 7,881 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $164,397.66. Following the completion of the sale, the insider now directly owns 138,072 shares of the company’s stock, valued at approximately $2,880,181.92. This represents a 5.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gregory Orenstein sold 12,101 shares of nCino stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $252,426.86. Following the transaction, the chief financial officer now directly owns 259,643 shares in the company, valued at approximately $5,416,152.98. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,864 shares of company stock worth $4,215,221. Insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp bought a new position in shares of nCino during the 4th quarter valued at approximately $34,000. Hilltop National Bank purchased a new position in shares of nCino during the 4th quarter valued at $37,000. Johnson Financial Group Inc. purchased a new stake in nCino in the 4th quarter worth about $57,000. Asset Management One Co. Ltd. raised its stake in nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after acquiring an additional 323 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in nCino by 32.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock valued at $152,000 after purchasing an additional 1,122 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other 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.