nCino (NASDAQ:NCNO) Given New $32.00 Price Target at Raymond James

nCino (NASDAQ:NCNO) had its target price reduced by Raymond James from $42.00 to $32.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also weighed in on the stock. Scotiabank reaffirmed a “sector perform” rating and issued a $19.00 target price (down from $35.00) on shares of nCino in a research note on Wednesday. Keefe, Bruyette & Woods reduced their price objective on nCino from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, March 28th. Robert W. Baird decreased their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Truist Financial cut nCino from a “buy” rating to a “hold” rating and cut their target price for the company from $44.00 to $21.00 in a research note on Wednesday. Finally, Barclays decreased their price target on shares of nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, nCino has an average rating of “Hold” and a consensus price target of $31.40.

nCino Stock Down 19.7 %

Shares of nCino stock opened at $22.59 on Wednesday. The company has a market capitalization of $2.62 billion, a P/E ratio of -132.87, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. 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 two-hundred day moving average of $34.12. nCino has a 1 year low of $18.75 and a 1 year high of $43.20.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. During the same period in the previous year, the company posted $0.21 earnings per share. nCino’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities analysts predict that nCino will post 0.12 EPS for the current year.

nCino announced that its Board of Directors has initiated a share buyback plan on Tuesday, April 1st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at nCino

In other news, CFO Gregory Orenstein sold 5,148 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $167,824.80. Following the transaction, the chief financial officer now directly owns 271,744 shares of the company’s stock, valued at $8,858,854.40. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeff Horing sold 54,876 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,877 shares of company stock worth $2,963,893. Insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Several hedge funds have recently bought and sold shares of NCNO. Fifth Third Bancorp acquired a new position in shares of nCino in the fourth quarter valued at approximately $34,000. Hilltop National Bank acquired a new stake in nCino during the 4th quarter worth approximately $37,000. Johnson Financial Group Inc. bought a new stake in nCino in the 4th quarter valued at $57,000. Asset Management One Co. Ltd. grew its holdings in nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after buying an additional 323 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in nCino by 32.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock worth $152,000 after buying an additional 1,122 shares during the period. 94.76% of the stock is currently 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.