nCino (NASDAQ:NCNO) Given “Buy” Rating at Needham & Company LLC

nCino (NASDAQ:NCNO)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They currently have a $42.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 37.57% from the company’s previous close.

NCNO has been the subject of a number of other reports. Keefe, Bruyette & Woods assumed coverage on shares of nCino in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 price objective for the company. Piper Sandler reissued an “overweight” rating and set a $42.00 price target on shares of nCino in a research report on Wednesday, March 27th. Robert W. Baird increased their price target on shares of nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Morgan Stanley increased their price target on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Finally, William Blair reissued an “outperform” rating on shares of nCino in a research report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.64.

nCino Trading Up 1.4 %

nCino stock opened at $30.53 on Thursday. The firm’s 50 day moving average price is $31.67 and its 200-day moving average price is $31.32. nCino has a 1 year low of $21.32 and a 1 year high of $37.48. The stock has a market cap of $3.49 billion, a P/E ratio of -98.48, a PEG ratio of 25.00 and a beta of 0.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.17.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, March 26th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. nCino had a negative net margin of 6.94% and a positive return on equity of 1.14%. The firm had revenue of $123.69 million during the quarter, compared to analyst estimates of $124.58 million. On average, equities analysts predict that nCino will post 0.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Insight Holdings Group, Llc sold 1,031,659 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $35.20, for a total transaction of $36,314,396.80. Following the transaction, the director now owns 545,039 shares in the company, valued at approximately $19,185,372.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other nCino news, Director Insight Holdings Group, Llc sold 1,031,659 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $35.20, for a total value of $36,314,396.80. Following the transaction, the director now owns 545,039 shares in the company, valued at approximately $19,185,372.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeanette Sellers sold 2,153 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $30.33, for a total value of $65,300.49. Following the completion of the transaction, the vice president now owns 27,360 shares in the company, valued at approximately $829,828.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,114,061 shares of company stock worth $39,096,813. Corporate insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased 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 worth $266,247,000 after acquiring an additional 148,390 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of nCino by 18.9% in the 4th quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock worth $75,777,000 after acquiring an additional 358,766 shares during the last quarter. Meritage Group LP increased 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 worth $65,451,000 after acquiring an additional 39,828 shares during the last quarter. Capital International Investors acquired a new stake in shares of nCino in the 1st quarter worth $60,703,000. Finally, Fred Alger Management LLC increased its stake in shares of nCino by 6.4% in the 3rd quarter. Fred Alger Management LLC now owns 1,339,050 shares of the company’s stock worth $42,582,000 after acquiring an additional 80,556 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

About nCino

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.