nCino (NASDAQ:NCNO) Hits New 12-Month High - Here's Why

nCino, Inc. (NASDAQ:NCNO - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $38.52 and last traded at $38.51, with a volume of 110084 shares changing hands. The stock had previously closed at $38.19.

Analyst Ratings Changes

A number of research firms have recently commented on NCNO. Macquarie restated an "outperform" rating and set a $40.00 price target on shares of nCino in a research report on Wednesday, October 23rd. Piper Sandler reiterated an "overweight" rating and issued a $38.00 target price on shares of nCino in a research report on Wednesday, August 28th. William Blair reiterated an "outperform" rating on shares of nCino in a research report on Wednesday, August 28th. Raymond James upgraded shares of nCino from a "market perform" rating to an "outperform" rating and set a $38.00 target price for the company in a research report on Tuesday, September 3rd. Finally, The Goldman Sachs Group upgraded shares of nCino from a "neutral" rating to a "buy" rating and upped their target price for the stock from $34.00 to $42.00 in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.82.

nCino Trading Up 0.6 %

The company's 50 day moving average price is $32.47 and its two-hundred day moving average price is $31.73. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $4.44 billion, a PE ratio of -123.94, a P/E/G ratio of 31.37 and a beta of 0.59.

nCino (NASDAQ:NCNO - Get Free Report) last issued its earnings results on Tuesday, August 27th. The company reported $0.14 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 the consensus estimate of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. nCino's quarterly revenue 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, analysts expect that nCino, Inc. will post 0.05 earnings per share for the current year.

Insider Transactions at nCino

In related news, 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 completion of the sale, the chief financial officer now owns 276,892 shares in the company, valued at $9,705,064.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Gregory Orenstein sold 3,885 shares of the company's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the sale, the chief financial officer now owns 276,892 shares in the company, valued at $9,705,064.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William J. Ruh sold 10,000 shares of the company's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the completion of the sale, the director now owns 226,201 shares in the company, valued at approximately $8,482,537.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,052,466 shares of company stock worth $144,705,589. 28.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On nCino

Institutional investors and hedge funds have recently bought and sold shares of the stock. Crewe Advisors LLC purchased a new stake in nCino in the 2nd quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. lifted its stake in nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company's stock valued at $87,000 after buying an additional 1,358 shares in the last quarter. Covestor Ltd lifted its stake in nCino by 29.6% in the 1st quarter. Covestor Ltd now owns 2,736 shares of the company's stock valued at $102,000 after buying an additional 625 shares in the last quarter. Amalgamated Bank lifted its stake in nCino by 28.1% in the 2nd quarter. Amalgamated Bank now owns 5,174 shares of the company's stock valued at $163,000 after buying an additional 1,134 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in nCino by 145.6% in the 1st quarter. Lazard Asset Management LLC now owns 4,516 shares of the company's stock valued at $168,000 after buying an additional 2,677 shares in the last quarter. Hedge funds and other 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.