nCino (NASDAQ:NCNO) Price Target Lowered to $28.00 at Piper Sandler

nCino (NASDAQ:NCNO) had its target price reduced by Piper Sandler from $38.00 to $28.00 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird dropped their target price on shares of nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Stephens reaffirmed an “equal weight” rating and issued a $38.00 price objective on shares of nCino in a research report on Thursday, March 20th. Keefe, Bruyette & Woods decreased their target price on nCino from $44.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, March 28th. Scotiabank cut their price target on nCino from $42.00 to $35.00 and set a “sector outperform” rating for the company in a report on Thursday, March 27th. Finally, Raymond James decreased their price objective on shares of nCino from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, March 25th. Ten 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.com, the stock has an average rating of “Hold” and a consensus target price of $31.40.

nCino Price Performance

Shares of NASDAQ NCNO opened at $22.59 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50-day moving average of $31.02 and a 200-day moving average of $34.12. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -132.87, a PEG ratio of 5.77 and a beta of 0.66. nCino has a fifty-two week low of $18.75 and a fifty-two week high of $43.20.

nCino (NASDAQ:NCNO) last posted its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The company had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same period last year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts predict that nCino will post 0.12 earnings per share for the current fiscal year.

nCino announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at nCino

In other news, Director Jeff Horing sold 54,876 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.00, for a total value of $1,920,660.00. Following the completion of the transaction, the director now owns 4,458,591 shares of the company’s stock, valued at approximately $156,050,685. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider April Rieger sold 4,325 shares of nCino stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the sale, the insider now directly owns 145,953 shares in the company, valued at $4,758,067.80. This trade represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,877 shares of company stock valued at $2,963,893. Company insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Hedge funds have recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. increased its holdings in shares of nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after buying an additional 323 shares in the last quarter. Victory Capital Management Inc. increased its holdings in nCino by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock worth $407,000 after purchasing an additional 340 shares in the last quarter. Berry Wealth Group LP raised its position in nCino by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock valued at $276,000 after purchasing an additional 400 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of nCino by 2.2% during the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock worth $772,000 after purchasing an additional 500 shares during the last quarter. Finally, Sterling Capital Management LLC increased its stake in shares of nCino by 1.2% in the fourth quarter. Sterling Capital Management LLC now owns 48,945 shares of the company’s stock valued at $1,644,000 after buying an additional 583 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.