nCino Inc. (NASDAQ:NCNO) Receives $26.07 Consensus Target Price from Brokerages

Shares of nCino Inc. (NASDAQ:NCNO) have received an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, eleven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $25.8667.

NCNO has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of nCino from $36.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Morgan Stanley lowered their target price on shares of nCino from $36.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, March 30th. Stephens dropped their target price on shares of nCino from $34.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Piper Sandler raised nCino from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $30.00 to $22.00 in a report on Wednesday, April 1st. Finally, Needham & Company LLC lowered their price objective on nCino from $38.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st.

nCino Trading Up 2.5%

nCino stock opened at $14.97 on Monday. The business has a 50-day simple moving average of $16.56 and a two-hundred day simple moving average of $20.75. nCino has a 52-week low of $13.80 and a 52-week high of $33.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.63 billion, a P/E ratio of 299.40 and a beta of 0.72.

nCino (NASDAQ:NCNO) last announced its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.16. nCino had a net margin of 0.87% and a return on equity of 4.75%. The company had revenue of $149.67 million during the quarter, compared to analyst estimates of $147.41 million. During the same period in the previous year, the business posted $0.12 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts predict that nCino will post 0.52 EPS for the current year.

Insider Activity at nCino

In related news, Director Pierre Naude sold 35,650 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $642,413.00. Following the completion of the transaction, the director directly owned 1,108,473 shares of the company’s stock, valued at approximately $19,974,683.46. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 14,650 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $263,993.00. Following the transaction, the chief financial officer owned 702,293 shares of the company’s stock, valued at $12,655,319.86. This represents a 2.04% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 164,918 shares of company stock valued at $2,900,939. Insiders own 5.70% of the company’s stock.

Institutional Trading of nCino

A number of large investors have recently made changes to their positions in NCNO. Bank of America Corp DE lifted its holdings in shares of nCino by 475.1% in the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock valued at $68,146,000 after acquiring an additional 2,076,579 shares during the last quarter. Millennium Management LLC raised its position in nCino by 262.8% during the fourth quarter. Millennium Management LLC now owns 2,341,532 shares of the company’s stock valued at $60,037,000 after purchasing an additional 1,696,051 shares during the period. Senvest Management LLC raised its position in nCino by 68.6% during the fourth quarter. Senvest Management LLC now owns 4,078,276 shares of the company’s stock valued at $104,567,000 after purchasing an additional 1,658,868 shares during the period. Wellington Management Group LLP bought a new stake in shares of nCino in the 3rd quarter valued at approximately $36,962,000. Finally, Ophir Asset Management Pty Ltd purchased a new position in shares of nCino in the 4th quarter worth approximately $33,985,000. 94.76% of the stock is currently owned by institutional investors.

About nCino

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.