nCino (NASDAQ:NCNO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of nCino (NASDAQ:NCNO) from a hold rating to a buy rating in a report released on Saturday morning.

A number of other research analysts have also recently weighed in on NCNO. Needham & Company LLC cut their price objective on shares of nCino from $38.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. BTIG Research began coverage on shares of nCino in a research report on Tuesday, December 16th. They set a “neutral” rating on the stock. Stephens cut their price objective on shares of nCino from $34.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Robert W. Baird cut their price objective on shares of nCino from $34.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. lowered their target price on shares of nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.07.

nCino Trading Up 1.5%

NCNO stock opened at $17.36 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 0.25. nCino has a twelve month low of $13.80 and a twelve month high of $33.92. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 347.20, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The firm’s fifty day simple moving average is $16.76 and its two-hundred day simple moving average is $22.43.

nCino (NASDAQ:NCNO) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. nCino had a net margin of 0.87% and a return on equity of 4.75%. The business had revenue of $149.67 million for the quarter, compared to analysts’ expectations of $147.41 million. During the same quarter in the previous year, the business posted $0.12 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. As a group, analysts anticipate that nCino will post 0.12 earnings per share for the current year.

nCino announced that its Board of Directors has initiated a share buyback plan on Monday, December 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CEO Sean Desmond sold 5,747 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $16.75, for a total value of $96,262.25. Following the completion of the sale, the chief executive officer directly owned 596,803 shares of the company’s stock, valued at $9,996,450.25. This represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider April Rieger sold 5,747 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $16.75, for a total transaction of $96,262.25. Following the completion of the sale, the insider directly owned 215,949 shares of the company’s stock, valued at approximately $3,617,145.75. This trade represents a 2.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 106,241 shares of company stock valued at $1,899,191. Insiders own 5.70% of the company’s stock.

Institutional Trading of nCino

A number of hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC lifted its stake in nCino by 15.9% in the fourth quarter. FNY Investment Advisers LLC now owns 3,228 shares of the company’s stock worth $82,000 after acquiring an additional 444 shares during the period. Advisors Asset Management Inc. lifted its stake in nCino by 68.5% in the second quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock worth $32,000 after acquiring an additional 458 shares during the period. US Bancorp DE lifted its stake in nCino by 1.6% in the third quarter. US Bancorp DE now owns 32,042 shares of the company’s stock worth $869,000 after acquiring an additional 501 shares during the period. Farther Finance Advisors LLC lifted its stake in nCino by 186.4% in the third quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock worth $26,000 after acquiring an additional 617 shares during the period. Finally, Lecap Asset Management Ltd. lifted its stake in nCino by 2.3% in the fourth quarter. Lecap Asset Management Ltd. now owns 31,163 shares of the company’s stock worth $799,000 after acquiring an additional 691 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Company Profile

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.