nCino (NASDAQ:NCNO) Price Target Raised to $27.00

nCino (NASDAQ:NCNO) had its target price increased by Truist Financial from $21.00 to $27.00 in a research note released on Thursday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other analysts also recently weighed in on NCNO. Piper Sandler reaffirmed a “neutral” rating and set a $28.00 price target (up previously from $25.00) on shares of nCino in a research note on Thursday. Stephens lifted their target price on nCino from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 21st. KeyCorp restated a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. William Blair downgraded nCino from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $33.00 price target on shares of nCino in a report on Thursday. Ten 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 an average rating of “Hold” and an average target price of $30.80.

nCino Price Performance

Shares of NCNO stock opened at $26.44 on Thursday. nCino has a 52-week low of $18.75 and a 52-week high of $43.20. The firm has a market capitalization of $3.05 billion, a P/E ratio of -155.52, a P/E/G ratio of 5.77 and a beta of 0.71. The stock has a 50 day moving average price of $24.41 and a 200 day moving average price of $30.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

nCino (NASDAQ:NCNO) last released its 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 business had revenue of $141.37 million for the quarter, compared to the consensus estimate of $140.81 million. During the same quarter last year, the business posted $0.21 earnings per share. 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 year.

nCino declared that its board has approved a stock repurchase program on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, VP Jeanette Sellers sold 2,501 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $21.51, for a total transaction of $53,796.51. Following the transaction, the vice president now directly owns 19,099 shares of the company’s stock, valued at $410,819.49. This represents a 11.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider April Rieger sold 7,881 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total transaction of $164,397.66. Following the transaction, the insider now owns 138,072 shares in the company, valued at approximately $2,880,181.92. This trade represents a 5.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 141,060 shares of company stock worth $3,101,115 in the last 90 days. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NCNO. Strs Ohio acquired a new position in shares of nCino in the 1st quarter valued at $1,086,000. Advisors Capital Management LLC increased its position in shares of nCino by 0.7% in the 1st quarter. Advisors Capital Management LLC now owns 66,270 shares of the company’s stock valued at $1,820,000 after acquiring an additional 479 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of nCino by 16.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company’s stock valued at $7,731,000 after acquiring an additional 39,345 shares during the period. Woodline Partners LP increased its holdings in shares of nCino by 105.3% in the first quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock valued at $363,000 after purchasing an additional 6,783 shares during the period. Finally, Clearline Capital LP acquired a new position in shares of nCino in the first quarter valued at about $494,000. 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.