nCino, Inc. (NASDAQ:NCNO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

nCino, Inc. (NASDAQ:NCNO) has been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $38.82.

NCNO has been the subject of a number of research analyst reports. Needham & Company LLC dropped their price objective on shares of nCino from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. Truist Financial reaffirmed a “buy” rating and set a $44.00 price target (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. William Blair restated an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Finally, Macquarie reiterated an “outperform” rating and set a $40.00 price target on shares of nCino in a research report on Wednesday, October 23rd.

Insider Activity

In related news, Director Jeff Horing sold 1,833,975 shares of nCino stock in a transaction on Friday, October 18th. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50. Following the transaction, the director now directly owns 12,513,467 shares of the company’s stock, valued at $458,243,161.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Jeff Horing sold 1,833,975 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the completion of the sale, the director now directly owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Desmond sold 30,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the transaction, the insider now owns 341,511 shares in the company, valued at approximately $11,874,337.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,235,582 shares of company stock valued at $117,618,559. 28.40% of the stock is currently owned by company insiders.

Institutional Trading of nCino

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NCNO. Kayne Anderson Rudnick Investment Management LLC raised its holdings in nCino by 8.9% in 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 purchasing an additional 635,064 shares in the last quarter. Vanguard Group Inc. increased its position in shares of nCino by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock valued at $266,247,000 after buying an additional 148,390 shares during the period. Long Path Partners LP raised its stake in nCino by 43.7% in the third quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock worth $117,559,000 after buying an additional 1,131,271 shares in the last quarter. ShawSpring Partners LLC lifted its holdings in nCino by 115.9% in the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after buying an additional 1,424,349 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its position in nCino by 55.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock valued at $65,261,000 after acquiring an additional 736,627 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Price Performance

Shares of NASDAQ NCNO opened at $41.49 on Thursday. The firm has a market capitalization of $4.79 billion, a P/E ratio of -153.66, a P/E/G ratio of 35.10 and a beta of 0.55. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The stock’s 50-day simple moving average is $34.18 and its two-hundred day simple moving average is $32.48. nCino has a twelve month low of $27.47 and a twelve month high of $43.20.

nCino (NASDAQ:NCNO) last posted its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The company had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. During the same period in the prior year, the business earned ($0.02) earnings per share. nCino’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts anticipate that nCino will post 0.05 EPS for the current fiscal 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.