Keefe, Bruyette & Woods Cuts nCino (NASDAQ:NCNO) Price Target to $28.00

nCino (NASDAQ:NCNO - Free Report) had its price objective cut by Keefe, Bruyette & Woods from $40.00 to $28.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also issued reports on the company. Bank of America lowered nCino from a "buy" rating to a "neutral" rating and set a $22.00 target price on the stock. in a research report on Wednesday, April 2nd. The Goldman Sachs Group downgraded shares of nCino from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $42.00 to $24.00 in a research note on Wednesday, April 2nd. William Blair lowered shares of nCino from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Stephens reiterated an "equal weight" rating and issued a $38.00 price target on shares of nCino in a research note on Wednesday, April 2nd. Finally, UBS Group set a $40.00 price objective on nCino in a research note on Friday, March 28th. Ten 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, nCino presently has a consensus rating of "Hold" and a consensus price target of $30.33.

nCino Stock Up 0.4 %

NCNO traded up $0.09 during trading hours on Thursday, reaching $21.81. 1,416,692 shares of the stock traded hands, compared to its average volume of 1,326,865. nCino has a fifty-two week low of $18.75 and a fifty-two week high of $43.20. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -127.76, a PEG ratio of 5.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The firm's fifty day simple moving average is $30.34 and its two-hundred day simple moving average is $33.97.

nCino (NASDAQ:NCNO - Get Free Report) last announced its 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). nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The business had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. As a group, analysts forecast that nCino will post 0.12 earnings per share for the current fiscal year.

nCino announced that its board has initiated a share repurchase plan on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insider Activity

In related news, CFO Gregory Orenstein sold 5,148 shares of nCino stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $167,824.80. Following the sale, the chief financial officer now directly owns 271,744 shares in the company, valued at $8,858,854.40. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider April Rieger sold 4,325 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of the transaction, the insider now owns 145,953 shares of the company's stock, valued at approximately $4,758,067.80. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,988 shares of company stock valued at $2,294,561. 28.40% of the stock is currently owned by company insiders.

Institutional Trading of nCino

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in nCino by 2,170.3% during the 1st quarter. GAMMA Investing LLC now owns 7,719 shares of the company's stock worth $212,000 after acquiring an additional 7,379 shares during the period. California State Teachers Retirement System raised its stake in shares of nCino by 5.4% during the fourth quarter. California State Teachers Retirement System now owns 85,835 shares of the company's stock valued at $2,882,000 after purchasing an additional 4,417 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in nCino in the fourth quarter worth about $227,000. Public Employees Retirement System of Ohio grew its position in nCino by 30.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 160,216 shares of the company's stock valued at $5,380,000 after buying an additional 37,260 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in nCino by 67.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 242,090 shares of the company's stock valued at $8,129,000 after buying an additional 97,333 shares during the period. Institutional investors own 94.76% of the company's stock.

nCino Company Profile

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.