Barclays Issues Pessimistic Forecast for nCino (NASDAQ:NCNO) Stock Price

nCino (NASDAQ:NCNO) had its price objective dropped by stock analysts at Barclays from $34.00 to $21.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 41.50% from the stock’s previous close.

A number of other brokerages also recently weighed in on NCNO. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of nCino in a research note on Thursday, December 4th. BTIG Research assumed coverage on nCino in a research report on Tuesday, December 16th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. cut their price target on nCino from $30.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Zacks Research cut nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Truist Financial dropped their target price on nCino from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, nCino has a consensus rating of “Moderate Buy” and an average price target of $31.47.

nCino Stock Down 4.4%

NASDAQ NCNO traded down $0.68 during trading hours on Tuesday, reaching $14.84. 123,879 shares of the company’s stock traded hands, compared to its average volume of 2,192,589. nCino has a 52-week low of $13.80 and a 52-week high of $33.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day simple moving average of $18.48 and a 200 day simple moving average of $23.47. The firm has a market cap of $1.70 billion, a PE ratio of -82.45, a PEG ratio of 3.00 and a beta of 0.59.

nCino announced that its board has approved a share buyback plan on Monday, December 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Pierre Naude sold 24,273 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $453,419.64. Following the transaction, the director directly owned 1,166,823 shares of the company’s stock, valued at approximately $21,796,253.64. This represents a 2.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jeanette Sellers sold 2,182 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $18.26, for a total value of $39,843.32. Following the sale, the senior vice president owned 43,219 shares in the company, valued at approximately $789,178.94. This represents a 4.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 69,803 shares of company stock worth $1,345,743 over the last 90 days. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On nCino

Several large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its position in nCino by 186.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock worth $26,000 after buying an additional 617 shares during the last quarter. CWM LLC lifted its stake in nCino by 255.8% during the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of nCino by 68.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock valued at $32,000 after acquiring an additional 458 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of nCino by 5,022.2% during the 3rd quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock valued at $37,000 after acquiring an additional 1,356 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of nCino in the fourth quarter worth approximately $38,000. 94.76% of the stock is currently owned by 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.