Analysts Set nCino, Inc. (NASDAQ:NCNO) Target Price at $38.00

Shares of nCino, Inc. (NASDAQ:NCNO) have received an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $38.00.

Several research firms have issued reports on NCNO. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $42.00 in a report on Wednesday, August 14th. JMP Securities reaffirmed a “market outperform” rating and set a $43.00 price objective on shares of nCino in a report on Wednesday, August 28th. Macquarie reaffirmed an “outperform” rating and set a $40.00 price objective on shares of nCino in a report on Wednesday, August 28th. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Tuesday, September 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price objective on shares of nCino in a report on Wednesday, August 28th.

Insider Buying and Selling at nCino

In other nCino news, Director Insight Holdings Group, Llc sold 1,981,514 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $31.08, for a total value of $61,585,455.12. Following the completion of the sale, the director now owns 1,545,347 shares in the company, valued at approximately $48,029,384.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other nCino news, Director Jeff Horing sold 133,487 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $31.51, for a total value of $4,206,175.37. Following the completion of the sale, the director now owns 24,879,980 shares in the company, valued at approximately $783,968,169.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Insight Holdings Group, Llc sold 1,981,514 shares of nCino stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $31.08, for a total transaction of $61,585,455.12. Following the sale, the director now owns 1,545,347 shares of the company’s stock, valued at approximately $48,029,384.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,405,313 shares of company stock worth $141,769,528. 28.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nCino

Several institutional investors have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of nCino by 8.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock worth $244,766,000 after buying an additional 635,064 shares during the period. Vanguard Group Inc. grew its position in shares of nCino by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock worth $266,247,000 after buying an additional 148,390 shares during the period. Long Path Partners LP grew its position in shares of nCino by 151.1% during the 2nd quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after buying an additional 1,558,529 shares during the period. Wasatch Advisors LP grew its position in shares of nCino by 18.9% during the 4th quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock worth $75,777,000 after buying an additional 358,766 shares during the period. Finally, Meritage Group LP grew its position in shares of nCino by 2.3% during the 1st quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock worth $65,451,000 after buying an additional 39,828 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Stock Performance

NASDAQ NCNO opened at $30.61 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -98.74, a P/E/G ratio of 22.77 and a beta of 0.58. The company’s fifty day moving average is $31.73 and its two-hundred day moving average is $31.46. nCino has a 52-week low of $27.13 and a 52-week high of $37.48.

nCino (NASDAQ:NCNO) last posted its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the business posted ($0.02) EPS. Equities research analysts forecast that nCino will post 0.06 EPS for the current year.

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.