Barclays Increases nCino (NASDAQ:NCNO) Price Target to $44.00

nCino (NASDAQ:NCNO) had its price objective upped by research analysts at Barclays from $34.00 to $44.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 4.14% from the stock’s current price.

A number of other equities analysts have also recently commented on NCNO. William Blair reissued an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Piper Sandler reissued an “overweight” rating and issued a $38.00 price objective on shares of nCino in a research note on Wednesday, August 28th. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. Stephens reissued an “equal weight” rating and issued a $35.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Finally, Truist Financial reissued a “buy” rating and issued a $44.00 price objective (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $42.25 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $4.88 billion, a P/E ratio of -156.48, a P/E/G ratio of 34.35 and a beta of 0.55. The firm’s fifty day moving average is $35.95 and its two-hundred day moving average is $33.07. nCino has a 52-week low of $27.47 and a 52-week high of $43.20.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The business had revenue of $132.40 million during the quarter, compared to analysts’ expectations of $131.06 million. During the same period last year, the company posted ($0.02) EPS. The business’s revenue was up 13.0% on a year-over-year basis. As a group, analysts anticipate that nCino will post 0.05 EPS for the current fiscal year.

Insider Activity at nCino

In other news, insider Sean Desmond sold 30,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the sale, the insider now owns 341,511 shares in the company, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the business’s 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 transaction, 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 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,235,029 shares of company stock worth $117,599,204 in the last 90 days. 28.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On nCino

A number of hedge funds and other institutional investors have recently bought and sold shares of NCNO. Long Path Partners LP lifted its position in nCino by 151.1% during the second 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. ShawSpring Partners LLC raised its holdings in shares of nCino by 115.9% in the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after buying an additional 1,424,349 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of nCino in the second quarter worth $41,805,000. Senator Investment Group LP purchased a new position in shares of nCino in the second quarter worth $40,885,000. Finally, Millennium Management LLC raised its holdings in shares of nCino by 438.3% in the second quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock worth $45,673,000 after buying an additional 1,182,452 shares during the last quarter. 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.