nCino (NASDAQ:NCNO) Trading Down 4.2% – Should You Sell?

nCino Inc. (NASDAQ:NCNO)’s share price traded down 4.2% during trading on Thursday . The company traded as low as $14.67 and last traded at $14.7560. 283,053 shares were traded during mid-day trading, a decline of 90% from the average session volume of 2,902,596 shares. The stock had previously closed at $15.41.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Piper Sandler raised nCino from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $30.00 to $22.00 in a research note on Wednesday, April 1st. Stephens decreased their price target on nCino from $34.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Wall Street Zen raised nCino from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. The Goldman Sachs Group decreased their price target on nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Finally, JPMorgan Chase & Co. decreased their price target on nCino from $30.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $25.21.

nCino Stock Performance

The company has a market cap of $1.68 billion, a PE ratio of 127.67 and a beta of 0.69. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $16.64 and a 200-day moving average of $19.34.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. nCino had a return on equity of 6.85% and a net margin of 2.17%.The company had revenue of $149.67 million for the quarter, compared to the consensus estimate of $147.41 million. During the same quarter in the previous year, the business earned $0.12 EPS. nCino’s revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that nCino Inc. will post 0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sean Desmond sold 22,073 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 transaction of $397,755.46. Following the transaction, the chief executive officer owned 1,271,016 shares in the company, valued at $22,903,708.32. The trade was a 1.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 35,650 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $642,413.00. Following the transaction, the director owned 1,108,473 shares in the company, valued at approximately $19,974,683.46. This represents a 3.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 172,982 shares of company stock worth $3,032,059 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of nCino by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 11,924,703 shares of the company’s stock worth $323,279,000 after acquiring an additional 201,499 shares during the period. Senvest Management LLC grew its holdings in shares of nCino by 30.2% during the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock worth $79,521,000 after acquiring an additional 1,230,192 shares during the period. Hawk Ridge Capital Management LP grew 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 worth $67,138,000 after acquiring an additional 3,864,010 shares during the period. Spyglass Capital Management LLC grew its holdings in shares of nCino by 6.0% during the 1st quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company’s stock worth $46,217,000 after acquiring an additional 175,357 shares during the period. Finally, Conestoga Capital Advisors LLC grew its holdings in shares of nCino by 25.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company’s stock worth $73,357,000 after acquiring an additional 585,786 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.