nCino (NASDAQ:NCNO) Price Target Lowered to $23.00 at Citizens Jmp

nCino (NASDAQ:NCNO) had its price target cut by analysts at Citizens Jmp from $32.00 to $23.00 in a report released on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective would indicate a potential upside of 50.22% from the company’s current price.

Several other research firms also recently weighed in on NCNO. Stephens reduced their target price on nCino from $34.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Robert W. Baird dropped their price objective on shares of nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Zacks Research upgraded shares of nCino from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Needham & Company LLC decreased their target price on shares of nCino from $38.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Finally, Piper Sandler upgraded shares of nCino from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $30.00 to $22.00 in a report on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $25.27.

nCino Stock Up 2.3%

Shares of NASDAQ NCNO opened at $15.31 on Monday. The firm has a market cap of $1.67 billion, a P/E ratio of 306.82 and a beta of 0.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00. nCino has a 1 year low of $13.80 and a 1 year high of $33.92. The firm’s 50 day moving average price is $16.56 and its 200 day moving average price is $20.71.

nCino (NASDAQ:NCNO) last issued its quarterly 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. nCino had a return on equity of 4.75% and a net margin of 0.87%.The company had revenue of $149.67 million during the quarter, compared to the consensus estimate of $147.41 million. During the same period in the previous year, the firm posted $0.12 EPS. nCino’s revenue was up 5.9% on a year-over-year basis. As a group, sell-side analysts anticipate that nCino will post 0.52 earnings per share for the current year.

Insider Transactions at nCino

In other news, insider April Rieger sold 9,693 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $174,667.86. Following the transaction, the insider directly owned 383,601 shares in the company, valued at $6,912,490.02. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 14,650 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $263,993.00. Following the sale, the chief financial officer owned 702,293 shares of the company’s stock, valued at $12,655,319.86. The trade was a 2.04% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 164,918 shares of company stock valued at $2,900,939. 1.90% of the stock is owned by company insiders.

Institutional Trading of nCino

A number of institutional investors have recently added to or reduced their stakes in the business. American Capital Management Inc. raised its position in nCino by 17.1% in the first quarter. American Capital Management Inc. now owns 2,375,396 shares of the company’s stock valued at $35,583,000 after purchasing an additional 347,587 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of nCino by 8.5% in the first quarter. The Manufacturers Life Insurance Company now owns 23,973 shares of the company’s stock valued at $359,000 after buying an additional 1,870 shares in the last quarter. Hawk Ridge Capital Management LP raised its holdings in shares of nCino by 625.4% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after buying an additional 3,864,010 shares during the period. Quantinno Capital Management LP raised its holdings in shares of nCino by 208.4% during the 1st quarter. Quantinno Capital Management LP now owns 308,294 shares of the company’s stock valued at $4,618,000 after buying an additional 208,336 shares during the period. Finally, Entropy Technologies LP lifted its position in nCino by 13.7% during the 1st quarter. Entropy Technologies LP now owns 18,720 shares of the company’s stock worth $280,000 after acquiring an additional 2,255 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

About nCino

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.