nCino (NASDAQ:NCNO) Receives New Coverage from Analysts at Moffett Nathanson

Moffett Nathanson assumed coverage on shares of nCino (NASDAQ:NCNOGet Rating) in a research note released on Thursday, The Fly reports. The firm issued a market perform rating and a $40.00 price objective on the stock.

A number of other equities research analysts have also commented on NCNO. KeyCorp decreased their price objective on nCino from $40.00 to $35.00 and set an overweight rating for the company in a research report on Friday, September 2nd. Stephens decreased their price objective on nCino to $40.00 in a research report on Friday, June 3rd. Piper Sandler lifted their price target on nCino from $40.00 to $42.00 and gave the company an overweight rating in a report on Friday, September 2nd. Morgan Stanley reduced their price target on nCino from $60.00 to $50.00 and set an overweight rating for the company in a report on Thursday, June 2nd. Finally, Needham & Company LLC reduced their price target on nCino from $60.00 to $42.00 and set a buy rating for the company in a report on Thursday, June 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $43.11.

nCino Stock Down 5.1 %

NASDAQ:NCNO opened at $33.97 on Thursday. nCino has a 1-year low of $23.94 and a 1-year high of $78.06. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -45.91 and a beta of 0.78. The stock has a fifty day simple moving average of $33.77 and a 200 day simple moving average of $35.77.

nCino (NASDAQ:NCNOGet Rating) last announced its quarterly earnings data on Thursday, September 1st. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. nCino had a negative return on equity of 15.41% and a negative net margin of 23.22%. The firm had revenue of $99.63 million during the quarter, compared to analyst estimates of $97.51 million. During the same period last year, the company posted ($0.10) EPS. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. Equities analysts predict that nCino will post -0.63 earnings per share for the current year.

Insider Activity at nCino

In related news, CEO Pierre Naude sold 11,120 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $32.34, for a total value of $359,620.80. Following the transaction, the chief executive officer now directly owns 894,913 shares of the company’s stock, valued at approximately $28,941,486.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO David Rudow sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $32.37, for a total value of $356,070.00. Following the transaction, the chief financial officer now directly owns 161,961 shares of the company’s stock, valued at approximately $5,242,677.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Pierre Naude sold 11,120 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $32.34, for a total value of $359,620.80. Following the completion of the transaction, the chief executive officer now directly owns 894,913 shares in the company, valued at $28,941,486.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,108 shares of company stock valued at $1,021,440. Corporate insiders own 37.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NCNO. Principal Financial Group Inc. increased its position in nCino by 5.3% in the 4th quarter. Principal Financial Group Inc. now owns 6,075 shares of the company’s stock worth $333,000 after buying an additional 306 shares during the period. Teacher Retirement System of Texas increased its position in nCino by 22.7% in the 4th quarter. Teacher Retirement System of Texas now owns 5,597 shares of the company’s stock worth $307,000 after buying an additional 1,036 shares during the period. Rhumbline Advisers increased its position in nCino by 7.3% in the 4th quarter. Rhumbline Advisers now owns 51,484 shares of the company’s stock worth $2,824,000 after buying an additional 3,520 shares during the period. Ensign Peak Advisors Inc bought a new position in nCino in the 4th quarter worth approximately $282,000. Finally, Charles Schwab Investment Management Inc. increased its position in nCino by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,610 shares of the company’s stock worth $16,711,000 after buying an additional 6,813 shares during the period. 89.71% of the stock is owned by institutional investors.

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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