nCino (NASDAQ:NCNO) Reaches New 52-Week High - Should You Buy?

nCino, Inc. (NASDAQ:NCNO - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $37.49 and last traded at $37.47, with a volume of 157708 shares. The stock had previously closed at $36.58.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Needham & Company LLC cut their price target on nCino from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, August 28th. JMP Securities reaffirmed a "market outperform" rating and set a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Piper Sandler reaffirmed an "overweight" rating and set a $38.00 target price on shares of nCino in a research note on Wednesday, August 28th. Raymond James raised nCino from a "market perform" rating to an "outperform" rating and set a $38.00 target price on the stock in a research note on Tuesday, September 3rd. Finally, Macquarie reaffirmed an "outperform" rating and set a $40.00 target price on shares of nCino in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $38.82.

nCino Stock Up 1.7 %

The business has a 50-day moving average price of $31.86 and a 200-day moving average price of $31.53. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of -120.03, a price-to-earnings-growth ratio of 26.59 and a beta of 0.59. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09.

nCino (NASDAQ:NCNO - Get Free Report) last announced its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The company had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. nCino's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.02) earnings per share. As a group, equities analysts anticipate that nCino, Inc. will post 0.05 earnings per share for the current fiscal year.

Insider Activity at nCino

In related news, Director Jeff Horing sold 1,833,975 shares of the company's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the transaction, the director now directly owns 12,513,467 shares of the company's stock, valued at approximately $458,243,161.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jeff Horing sold 1,833,975 shares of the company's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the transaction, the director now directly owns 12,513,467 shares of the company's stock, valued at approximately $458,243,161.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gregory Orenstein sold 3,885 shares of the company's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $35.05, for a total value of $136,169.25. Following the transaction, the chief financial officer now directly owns 276,892 shares in the company, valued at $9,705,064.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,014,080 shares of company stock valued at $176,869,658. Company insiders own 28.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NCNO. Nomura Holdings Inc. acquired a new position in nCino in the 4th quarter worth about $211,000. Norden Group LLC increased its position in nCino by 2,388.5% in the 1st quarter. Norden Group LLC now owns 454,665 shares of the company's stock worth $16,995,000 after purchasing an additional 436,394 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in nCino in the 1st quarter worth about $52,000. Principal Financial Group Inc. acquired a new position in nCino in the 1st quarter worth about $220,000. Finally, SpiderRock Advisors LLC acquired a new position in nCino in the 1st quarter worth about $751,000. 94.76% of the stock is owned by institutional investors and hedge funds.

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.