nCino (NASDAQ:NCNO) Shares Gap Down Following Analyst Downgrade

nCino, Inc. (NASDAQ:NCNOGet Free Report) shares gapped down before the market opened on Thursday after Robert W. Baird lowered their price target on the stock from $37.00 to $36.00. The stock had previously closed at $30.15, but opened at $28.52. Robert W. Baird currently has a neutral rating on the stock. nCino shares last traded at $29.20, with a volume of 227,262 shares.

NCNO has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and set a $42.00 price target on shares of nCino in a report on Thursday. William Blair reissued an “outperform” rating on shares of nCino in a report on Wednesday, March 27th. Piper Sandler decreased their price objective on nCino from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday. Keefe, Bruyette & Woods began coverage on nCino in a report on Tuesday, April 9th. They issued an “outperform” rating and a $41.00 price objective for the company. Finally, Morgan Stanley lifted their target price on nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.64.

Get Our Latest Stock Report on nCino

Insiders Place Their Bets

In other news, VP Jeanette Sellers sold 2,153 shares of nCino stock in a transaction on Monday, May 6th. The stock was sold at an average price of $30.33, for a total value of $65,300.49. Following the transaction, the vice president now directly owns 27,360 shares in the company, valued at approximately $829,828.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Jeanette Sellers sold 2,153 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $30.33, for a total transaction of $65,300.49. Following the transaction, the vice president now directly owns 27,360 shares in the company, valued at approximately $829,828.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sean Desmond sold 5,009 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $30.63, for a total value of $153,425.67. Following the transaction, the insider now owns 381,974 shares in the company, valued at $11,699,863.62. The disclosure for this sale can be found here. Insiders have sold 1,114,061 shares of company stock worth $39,096,813 in the last ninety days. 28.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On nCino

Several institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. purchased a new stake in nCino during the 3rd quarter worth approximately $213,000. Atria Investments Inc grew its position in shares of nCino by 4.1% in the third quarter. Atria Investments Inc now owns 47,850 shares of the company’s stock valued at $1,522,000 after purchasing an additional 1,900 shares in the last quarter. Barclays PLC grew its position in shares of nCino by 45.2% in the third quarter. Barclays PLC now owns 88,168 shares of the company’s stock valued at $2,804,000 after purchasing an additional 27,452 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of nCino by 2.6% in the third quarter. New York State Common Retirement Fund now owns 741,831 shares of the company’s stock valued at $23,590,000 after purchasing an additional 19,060 shares in the last quarter. Finally, Premier Fund Managers Ltd purchased a new stake in shares of nCino in the third quarter valued at approximately $256,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Stock Down 0.1 %

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $31.67 and a 200-day moving average price of $31.30. The firm has a market capitalization of $3.44 billion, a PE ratio of -79.24, a price-to-earnings-growth ratio of 25.30 and a beta of 0.57.

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, beating analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $123.69 million during the quarter, compared to analyst estimates of $124.58 million. nCino had a positive return on equity of 0.31% and a negative net margin of 8.89%. Equities research analysts forecast that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

nCino Company Profile

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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.

Further Reading

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