nCino Inc. (NASDAQ:NCNO) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of nCino Inc. (NASDAQ:NCNO) have been assigned a consensus recommendation of “Moderate Buy” from the twenty research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $32.3333.

A number of research firms have recently weighed in on NCNO. Zacks Research lowered shares of nCino from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. cut their price target on nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. BTIG Research began coverage on nCino in a research note on Tuesday, December 16th. They set a “neutral” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nCino in a research report on Thursday, January 22nd. Finally, Barclays reduced their target price on nCino from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, January 5th.

Insiders Place Their Bets

In other nCino news, CFO Gregory Orenstein sold 10,562 shares of nCino stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total value of $197,298.16. Following the transaction, the chief financial officer owned 451,184 shares in the company, valued at $8,428,117.12. This trade represents a 2.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider April Rieger sold 8,078 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total transaction of $150,897.04. Following the sale, the insider directly owned 221,696 shares of the company’s stock, valued at $4,141,281.28. This represents a 3.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 78,641 shares of company stock valued at $1,559,400. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nCino

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in shares of nCino by 16.6% in the 1st quarter. Millennium Management LLC now owns 303,853 shares of the company’s stock worth $8,347,000 after purchasing an additional 43,247 shares during the period. Woodline Partners LP increased its position in nCino by 105.3% during the 1st quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock worth $363,000 after purchasing an additional 6,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in nCino by 16.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company’s stock valued at $7,731,000 after buying an additional 39,345 shares during the period. Asset Management One Co. Ltd. lifted its position in nCino by 15.2% during the second quarter. Asset Management One Co. Ltd. now owns 4,284 shares of the company’s stock valued at $120,000 after buying an additional 566 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in nCino by 14.7% during the second quarter. State of New Jersey Common Pension Fund D now owns 70,647 shares of the company’s stock valued at $1,976,000 after buying an additional 9,078 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Stock Up 4.3%

Shares of NASDAQ:NCNO opened at $16.83 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.93 billion, a P/E ratio of -93.50, a P/E/G ratio of 3.18 and a beta of 0.59. nCino has a 52-week low of $13.80 and a 52-week high of $33.92. The stock’s fifty day simple moving average is $21.21 and its 200-day simple moving average is $24.87.

nCino (NASDAQ:NCNO) last announced its earnings results on Wednesday, December 3rd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.11. The firm had revenue of $152.16 million during the quarter, compared to the consensus estimate of $147.31 million. nCino had a negative net margin of 3.71% and a positive return on equity of 2.28%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 EPS. As a group, equities research analysts forecast that nCino will post 0.12 earnings per share for the current fiscal year.

nCino declared that its board has approved a share buyback plan on Monday, December 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

nCino Company Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.