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

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

A number of brokerages have weighed in on NCNO. Robert W. Baird decreased their target price on shares of nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Needham & Company LLC decreased their target price on shares of nCino from $38.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Citizens Jmp decreased their target price on shares of nCino from $41.00 to $32.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 1st. The Goldman Sachs Group reduced their price target on shares of nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Barclays raised their price target on shares of nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st.

Insider Activity at nCino

In related news, insider April Rieger sold 9,693 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 transaction of $174,667.86. Following the completion of the sale, the insider owned 383,601 shares of the company’s stock, valued at $6,912,490.02. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $263,993.00. Following the sale, the chief financial officer directly owned 702,293 shares of the company’s stock, valued at $12,655,319.86. This trade represents a 2.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 164,918 shares of company stock valued at $2,900,939 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On nCino

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of nCino by 186.4% during the third quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock valued at $26,000 after acquiring an additional 617 shares in the last quarter. CWM LLC increased its position in shares of nCino by 255.8% during the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares in the last quarter. AlphaQuest LLC increased its position in shares of nCino by 5,022.2% during the third quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock valued at $37,000 after acquiring an additional 1,356 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of nCino during the fourth quarter valued at approximately $38,000. Finally, Quarry LP grew its position in nCino by 138.2% in the 3rd quarter. Quarry LP now owns 1,701 shares of the company’s stock worth $46,000 after purchasing an additional 987 shares during the period. Institutional investors own 94.76% of the company’s stock.

nCino Price Performance

Shares of NASDAQ NCNO opened at $14.97 on Monday. nCino has a fifty-two week low of $13.80 and a fifty-two week high of $33.92. The company has a 50 day simple moving average of $16.56 and a two-hundred day simple moving average of $20.71. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 299.40 and a beta of 0.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00.

nCino (NASDAQ:NCNO) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $147.41 million. During the same quarter last year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts expect that nCino will post 0.52 EPS for the current fiscal year.

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.