Macquarie Reiterates “Outperform” Rating for nCino (NASDAQ:NCNO)

Macquarie reaffirmed their outperform rating on shares of nCino (NASDAQ:NCNO) in a research note published on Wednesday morning, Benzinga reports. They currently have a $40.00 price target on the stock.

A number of other research firms also recently commented on NCNO. 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. Truist Financial reaffirmed a “buy” rating and set a $44.00 target price (up from $37.00) on shares of nCino in a research report on Monday, October 21st. The Goldman Sachs Group raised nCino from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $42.00 in a research report on Wednesday, August 14th. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Finally, Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research report on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.82.

nCino Stock Down 1.1 %

NCNO opened at $37.83 on Wednesday. nCino has a one year low of $27.27 and a one year high of $38.48. 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 stock’s fifty day moving average is $32.31 and its 200-day moving average is $31.66. The company has a market capitalization of $4.35 billion, a PE ratio of -122.03, a P/E/G ratio of 30.64 and a beta of 0.59.

nCino (NASDAQ:NCNO) last posted 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 positive return on equity of 1.06% and a negative net margin of 5.78%. The company had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. During the same quarter in the previous year, the business earned ($0.02) EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities analysts predict that nCino will post 0.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Gregory Orenstein sold 3,885 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other nCino news, Director Jeff Horing sold 50,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $33.30, for a total value of $1,665,000.00. Following the transaction, the director now directly owns 17,502,574 shares of the company’s stock, valued at $582,835,714.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the transaction, the chief financial officer now directly owns 276,892 shares in the company, valued at approximately $9,705,064.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,102,466 shares of company stock valued at $146,370,589. Corporate insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Crewe Advisors LLC acquired a new position in nCino in the 2nd quarter worth about $26,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of nCino during the 1st quarter valued at about $52,000. Covestor Ltd increased its holdings in shares of nCino by 29.6% during the 1st quarter. Covestor Ltd now owns 2,736 shares of the company’s stock valued at $102,000 after acquiring an additional 625 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of nCino by 145.6% during the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock valued at $168,000 after acquiring an additional 2,677 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of nCino by 28.1% during the 2nd quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock valued at $163,000 after acquiring an additional 1,134 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

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.