nCino (NASDAQ:NCNO) Stock Price Expected to Rise, Barclays Analyst Says

nCino (NASDAQ:NCNO) had its target price lifted by Barclays from $34.00 to $44.00 in a research report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently issued reports on NCNO. Stephens restated an “equal weight” rating and set a $35.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Tuesday, September 3rd. Macquarie reiterated an “outperform” rating and issued a $40.00 price target on shares of nCino in a report on Wednesday, October 23rd. William Blair reiterated an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Finally, Truist Financial reiterated a “buy” rating and issued a $44.00 price target (up from $37.00) on shares of nCino in a report on Monday, October 21st. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

nCino Trading Up 1.9 %

Shares of nCino stock opened at $42.20 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. nCino has a 1 year low of $27.47 and a 1 year high of $43.20. The company has a market capitalization of $4.88 billion, a P/E ratio of -156.29, a P/E/G ratio of 34.35 and a beta of 0.55. The business has a 50 day moving average price of $35.95 and a 200 day moving average price of $33.07.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The firm had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. During the same period in the previous year, the firm posted ($0.02) EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts anticipate that nCino will post 0.05 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeff Horing sold 1,356,721 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $36.02, for a total transaction of $48,869,090.42. Following the completion of the sale, the director now directly owns 14,656,746 shares of the company’s stock, valued at approximately $527,935,990.92. This represents a 8.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $35.05, for a total transaction of $136,169.25. Following the sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,235,029 shares of company stock valued at $117,599,204 in the last ninety days. Company insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

A number of institutional investors have recently added to or reduced their stakes in NCNO. Vanguard Group Inc. boosted its position in nCino by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock worth $266,247,000 after purchasing an additional 148,390 shares during the period. Lazard Asset Management LLC boosted its position in nCino by 145.6% in the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock valued at $168,000 after buying an additional 2,677 shares during the last quarter. Motley Fool Asset Management LLC purchased a new position in nCino in the 1st quarter valued at about $1,196,000. Washington Harbour Partners LP boosted its position in nCino by 17.1% in the 1st quarter. Washington Harbour Partners LP now owns 68,604 shares of the company’s stock valued at $2,564,000 after buying an additional 10,000 shares during the last quarter. Finally, Untitled Investments LP boosted its position in nCino by 3.0% in the 1st quarter. Untitled Investments LP now owns 891,248 shares of the company’s stock valued at $33,315,000 after buying an additional 26,260 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

About nCino

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.