nCino (NASDAQ:NCNO) Price Target Cut to $45.00 by Analysts at KeyCorp

nCino (NASDAQ:NCNOGet Rating) had its price objective cut by investment analysts at KeyCorp from $60.00 to $45.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 40.58% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Barclays reduced their price objective on nCino from $47.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 24th. Piper Sandler lowered their price target on nCino from $80.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, April 1st. Truist Financial reduced their price objective on nCino from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, April 1st. Robert W. Baird reduced their price target on nCino from $60.00 to $55.00 in a research report on Monday, April 4th. Finally, Zacks Investment Research raised nCino from a “sell” rating to a “hold” rating in a research report on Saturday, March 5th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, nCino presently has a consensus rating of “Buy” and a consensus price target of $60.24.

Shares of NASDAQ NCNO opened at $32.01 on Thursday. nCino has a one year low of $23.94 and a one year high of $79.43. The firm has a market capitalization of $3.53 billion, a PE ratio of -62.76 and a beta of 0.92. The company has a current ratio of 3.62, a quick ratio of 3.62 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $37.17 and a two-hundred day moving average price of $45.86.

nCino (NASDAQ:NCNOGet Rating) last released its quarterly earnings data on Wednesday, June 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $94.21 million for the quarter, compared to analysts’ expectations of $91.42 million. nCino had a negative return on equity of 11.43% and a negative net margin of 18.06%. nCino’s quarterly revenue was up 51.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) earnings per share. Research analysts anticipate that nCino will post -0.63 EPS for the current year.

In related news, CFO David Rudow sold 2,215 shares of the firm’s stock in a transaction that occurred on Wednesday, April 6th. The shares were sold at an average price of $43.63, for a total transaction of $96,640.45. Following the completion of the sale, the chief financial officer now owns 198,385 shares of the company’s stock, valued at $8,655,537.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Pierre Naude sold 9,749 shares of nCino stock in a transaction on Wednesday, April 6th. The stock was sold at an average price of $43.63, for a total transaction of $425,348.87. Following the transaction, the chief executive officer now owns 920,989 shares in the company, valued at approximately $40,182,750.07. The disclosure for this sale can be found here. In the last three months, insiders sold 87,487 shares of company stock worth $3,730,255. 37.20% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the stock. Morgan Stanley lifted its position in nCino by 102.8% during the second quarter. Morgan Stanley now owns 439,153 shares of the company’s stock valued at $26,313,000 after acquiring an additional 222,582 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in nCino by 12.6% during the third quarter. Principal Financial Group Inc. now owns 5,769 shares of the company’s stock valued at $410,000 after purchasing an additional 647 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of nCino by 224.1% in the third quarter. Geode Capital Management LLC now owns 717,080 shares of the company’s stock worth $50,934,000 after buying an additional 495,838 shares in the last quarter. Credit Suisse AG lifted its stake in shares of nCino by 84.1% in the third quarter. Credit Suisse AG now owns 78,699 shares of the company’s stock worth $5,590,000 after buying an additional 35,958 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in nCino by 33.6% during the third quarter. Macquarie Group Ltd. now owns 87,437 shares of the company’s stock worth $6,211,000 after purchasing an additional 21,967 shares during the last quarter.

About nCino (Get Rating)

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, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.

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