nCino (NASDAQ:NCNO) Given “Outperform” Rating at William Blair

William Blair reaffirmed their outperform rating on shares of nCino (NASDAQ:NCNOFree Report) in a research report sent to investors on Thursday morning, RTT News reports.

Several other analysts have also issued reports on the stock. Piper Sandler reduced their price target on shares of nCino from $42.00 to $38.00 and set an overweight rating on the stock in a research report on Thursday. Robert W. Baird reduced their price target on shares of nCino from $37.00 to $36.00 and set a neutral rating on the stock in a research report on Thursday. Needham & Company LLC restated a buy rating and issued a $42.00 target price on shares of nCino in a research report on Thursday. Morgan Stanley raised their target price on shares of nCino from $27.00 to $30.00 and gave the company an equal weight rating in a research report on Wednesday, March 27th. Finally, Stephens restated an equal weight rating and issued a $35.00 target price on shares of nCino in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $35.64.

Check Out Our Latest Analysis on NCNO

nCino Stock Performance

NASDAQ NCNO opened at $30.11 on Thursday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -79.24, a P/E/G ratio of 25.30 and a beta of 0.57. The firm’s 50 day simple moving average is $31.67 and its 200 day simple moving average is $31.30. nCino has a 1 year low of $21.32 and a 1 year high of $37.48.

nCino (NASDAQ:NCNOGet Free Report) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. The business had revenue of $123.69 million for the quarter, compared to analyst estimates of $124.58 million. nCino had a negative net margin of 8.89% and a positive return on equity of 0.31%. As a group, research analysts expect that nCino will post 0.05 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Jeanette Sellers sold 2,153 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $30.33, for a total transaction of $65,300.49. Following the completion of the transaction, the vice president now owns 27,360 shares of the company’s stock, valued at $829,828.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Jeanette Sellers sold 2,153 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $30.33, for a total transaction of $65,300.49. Following the completion of the transaction, the vice president now owns 27,360 shares of the company’s stock, valued at $829,828.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider April Rieger sold 27,513 shares of nCino stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.09, for a total transaction of $992,944.17. Following the transaction, the insider now directly owns 128,075 shares of the company’s stock, valued at approximately $4,622,226.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,114,061 shares of company stock valued at $39,096,813. Insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

A number of hedge funds have recently bought and sold shares of the company. Untitled Investments LP raised its stake in nCino by 3.0% during the first quarter. Untitled Investments LP now owns 891,248 shares of the company’s stock worth $33,315,000 after buying an additional 26,260 shares during the last quarter. Washington Harbour Partners LP raised its stake in nCino by 17.1% during the first quarter. Washington Harbour Partners LP now owns 68,604 shares of the company’s stock worth $2,564,000 after buying an additional 10,000 shares during the last quarter. Motley Fool Asset Management LLC bought a new position in nCino during the first quarter worth $1,196,000. Silvercrest Asset Management Group LLC raised its stake in nCino by 18.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 454,249 shares of the company’s stock worth $16,980,000 after buying an additional 71,744 shares during the last quarter. Finally, Bamco Inc. NY increased its stake in nCino by 83.7% in the first quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock valued at $34,576,000 after purchasing an additional 421,500 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

About nCino

(Get Free Report)

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 connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.

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Analyst Recommendations for nCino (NASDAQ:NCNO)

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