nCino (NASDAQ:NCNO) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of nCino (NASDAQ:NCNOFree Report) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their price objective on nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Keefe, Bruyette & Woods dropped their target price on shares of nCino from $36.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday. BTIG Research started coverage on shares of nCino in a research note on Tuesday, December 16th. They set a “neutral” rating for the company. Citizens Jmp reduced their price target on shares of nCino from $41.00 to $32.00 and set a “market outperform” rating for the company in a report on Wednesday. Finally, Barclays raised their price target on shares of nCino from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and a consensus price target of $26.07.

Read Our Latest Stock Analysis on NCNO

nCino Price Performance

NASDAQ NCNO opened at $16.57 on Tuesday. nCino has a twelve month low of $13.80 and a twelve month high of $33.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $1.90 billion, a PE ratio of 331.40, a P/E/G ratio of 2.94 and a beta of 0.59. The stock has a 50-day simple moving average of $17.19 and a 200 day simple moving average of $22.76.

nCino (NASDAQ:NCNOGet Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.16. The firm had revenue of $149.67 million during the quarter, compared to the consensus estimate of $147.41 million. nCino had a return on equity of 4.75% and a net margin of 0.87%.The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 EPS. Research analysts anticipate that nCino will post 0.12 EPS for the current year.

nCino declared that its Board of Directors has approved a stock repurchase program on Monday, December 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 3.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, SVP Jeanette Sellers sold 2,182 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $18.26, for a total transaction of $39,843.32. Following the completion of the transaction, the senior vice president directly owned 43,219 shares of the company’s stock, valued at approximately $789,178.94. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider April Rieger sold 8,078 shares of nCino stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total transaction of $150,897.04. Following the sale, the insider owned 221,696 shares in the company, valued at approximately $4,141,281.28. This trade represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 69,803 shares of company stock valued at $1,345,743. 5.70% of the stock is owned by insiders.

Institutional Trading of nCino

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its stake in nCino by 186.4% during the third quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock worth $26,000 after purchasing an additional 617 shares during the period. Advisors Asset Management Inc. grew its stake in shares of nCino by 68.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock valued at $32,000 after purchasing an additional 458 shares during the period. CWM LLC grew its stake in shares of nCino by 255.8% in the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after purchasing an additional 821 shares during the period. AlphaQuest LLC raised its holdings in shares of nCino by 5,022.2% in the 3rd quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock worth $37,000 after buying an additional 1,356 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of nCino in the 4th quarter worth approximately $38,000. Institutional investors own 94.76% of the company’s stock.

nCino News Roundup

Here are the key news stories impacting nCino this week:

About nCino

(Get Free Report)

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.

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Analyst Recommendations for nCino (NASDAQ:NCNO)

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