nCino (NASDAQ:NCNO) Given Overweight Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of nCino (NASDAQ:NCNO) in a research report released on Monday morning, Benzinga reports. The brokerage currently has a $38.00 price objective on the stock.

Several other equities research analysts have also issued reports on NCNO. William Blair reissued an outperform rating on shares of nCino in a research report on Wednesday, June 26th. Morgan Stanley increased their price objective on shares of nCino from $27.00 to $30.00 and gave the stock an equal weight rating in a research report on Wednesday, March 27th. Stephens reissued an equal weight rating and issued a $35.00 price objective on shares of nCino in a research report on Thursday, May 30th. Robert W. Baird dropped their price objective on shares of nCino from $37.00 to $36.00 and set a neutral rating for the company in a research report on Thursday, May 30th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $42.00 price target on shares of nCino in a report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $35.64.

nCino Stock Performance

Shares of NCNO opened at $31.26 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -100.84, a PEG ratio of 17.18 and a beta of 0.59. The company’s 50 day simple moving average is $30.90 and its 200 day simple moving average is $31.55. nCino has a 1 year low of $27.13 and a 1 year high of $37.48.

nCino (NASDAQ:NCNO) last issued its quarterly earnings results on Wednesday, May 29th. The company reported $0.05 EPS for the quarter. nCino had a negative net margin of 6.94% and a positive return on equity of 1.13%. The firm had revenue of $128.09 million during the quarter, compared to analyst estimates of $126.59 million. On average, sell-side analysts predict that nCino will post 0.08 EPS for the current year.

Insider Buying and Selling at nCino

In other nCino news, VP Jeanette Sellers sold 2,153 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $30.33, for a total transaction of $65,300.49. Following the transaction, the vice president now directly owns 27,360 shares in the company, valued at approximately $829,828.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director William J. Ruh sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $34.51, for a total value of $172,550.00. Following the transaction, the director now directly owns 251,201 shares in the company, valued at approximately $8,668,946.51. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jeanette Sellers sold 2,153 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $30.33, for a total transaction of $65,300.49. Following the completion of the transaction, the vice president now owns 27,360 shares in the company, valued at $829,828.80. The disclosure for this sale can be found here. Insiders have sold 2,419,488 shares of company stock worth $76,254,732 in the last ninety days. 28.40% of the stock is owned by insiders.

Institutional Trading of nCino

A number of large investors have recently modified their holdings of NCNO. Wasatch Advisors LP increased its stake in nCino by 18.9% during the 4th quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock valued at $75,777,000 after buying an additional 358,766 shares during the period. Strs Ohio acquired a new position in shares of nCino in the 4th quarter worth approximately $990,000. Dimensional Fund Advisors LP grew its stake in shares of nCino by 20.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,034,908 shares of the company’s stock worth $34,807,000 after purchasing an additional 177,799 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of nCino in the 3rd quarter worth approximately $1,161,000. Finally, Meritage Group LP boosted its holdings in shares of nCino by 0.5% in the fourth quarter. Meritage Group LP now owns 1,711,126 shares of the company’s stock worth $57,545,000 after buying an additional 8,157 shares during the period. Institutional investors and hedge funds 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.