nCino (NASDAQ:NCNO) Receives Equal Weight Rating from Stephens

nCino (NASDAQ:NCNO)‘s stock had its “equal weight” rating reissued by equities research analysts at Stephens in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $38.00 price objective on the stock. Stephens’ price objective would suggest a potential upside of 80.83% from the company’s current price.

A number of other brokerages also recently issued reports on NCNO. KeyCorp reissued a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. Scotiabank reiterated a “sector perform” rating and issued a $19.00 target price (down from $35.00) on shares of nCino in a research note on Wednesday. Truist Financial lowered shares of nCino from a “buy” rating to a “hold” rating and reduced their price target for the company from $44.00 to $21.00 in a research report on Wednesday. Piper Sandler lowered their price objective on nCino from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC reduced their target price on nCino from $45.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.07.

nCino Stock Performance

nCino stock traded down $7.11 during mid-day trading on Wednesday, reaching $21.01. The company’s stock had a trading volume of 8,202,639 shares, compared to its average volume of 1,241,962. The firm’s fifty day moving average price is $31.22 and its two-hundred day moving average price is $34.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino has a 12-month low of $18.12 and a 12-month high of $43.20. The company has a market capitalization of $2.43 billion, a P/E ratio of -123.05, a PEG ratio of 5.77 and a beta of 0.66.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). The company had revenue of $141.37 million during the quarter, compared to analysts’ expectations of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. nCino’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. Sell-side analysts predict that nCino will post 0.12 EPS for the current fiscal year.

nCino announced that its Board of Directors has authorized a share buyback program on Tuesday, April 1st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at nCino

In related news, insider April Rieger sold 4,325 shares of nCino stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the transaction, the insider now owns 145,953 shares in the company, valued at $4,758,067.80. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeff Horing sold 54,876 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the sale, the director now owns 4,458,591 shares of the company’s stock, valued at approximately $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,877 shares of company stock worth $2,963,893. 28.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On nCino

Institutional investors and hedge funds have recently bought and sold shares of the stock. Asset Management One Co. Ltd. boosted its stake in shares of nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after purchasing an additional 323 shares during the period. Victory Capital Management Inc. increased its stake in shares of nCino by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock worth $407,000 after buying an additional 340 shares during the period. Berry Wealth Group LP raised its holdings in nCino by 5.1% during the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock valued at $276,000 after buying an additional 400 shares during the last quarter. Handelsbanken Fonder AB boosted its position in nCino by 2.2% during the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock valued at $772,000 after buying an additional 500 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in nCino by 1.2% in the 4th quarter. Sterling Capital Management LLC now owns 48,945 shares of the company’s stock worth $1,644,000 after acquiring an additional 583 shares during the last quarter. 94.76% of the stock is currently owned by 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.