nCino, Inc. (NASDAQ:NCNO) Receives $38.18 Average PT from Analysts

Shares of nCino, Inc. (NASDAQ:NCNO - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twelve brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $38.18.

A number of equities research analysts have weighed in on NCNO shares. Truist Financial reissued a "buy" rating and issued a $37.00 price target on shares of nCino in a report on Wednesday, August 28th. The Goldman Sachs Group raised shares of nCino from a "neutral" rating to a "buy" rating and upped their price target for the company from $34.00 to $42.00 in a report on Wednesday, August 14th. William Blair reissued an "outperform" rating on shares of nCino in a report on Wednesday, August 28th. Macquarie reaffirmed an "outperform" rating and set a $40.00 price objective on shares of nCino in a research note on Wednesday, August 28th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $38.00 price objective on shares of nCino in a research note on Wednesday, August 28th.

nCino Stock Performance

Shares of nCino stock traded up $1.05 during trading on Friday, hitting $34.51. 2,384,790 shares of the stock were exchanged, compared to its average volume of 1,048,165. The stock's fifty day moving average is $31.43 and its 200 day moving average is $31.57. The stock has a market cap of $3.97 billion, a PE ratio of -111.32, a P/E/G ratio of 26.59 and a beta of 0.59. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. nCino has a 12 month low of $27.13 and a 12 month high of $37.48.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $132.40 million during 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%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) earnings per share. As a group, sell-side analysts anticipate that nCino will post 0.05 EPS for the current year.

Insider Activity

In other news, Director Jeff Horing sold 126,641 shares of the company's stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $31.01, for a total value of $3,927,137.41. Following the transaction, the director now owns 19,386,826 shares in the company, valued at $601,185,474.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Insight Holdings Group, Llc sold 16,882 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $33.11, for a total value of $558,963.02. Following the transaction, the director now owns 1,381,929 shares in the company, valued at approximately $45,755,669.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeff Horing sold 126,641 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $31.01, for a total value of $3,927,137.41. Following the completion of the transaction, the director now owns 19,386,826 shares in the company, valued at $601,185,474.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,290,312 shares of company stock worth $75,977,898 in the last 90 days. Company insiders own 28.40% of the company's stock.

Hedge Funds Weigh In On nCino

A number of hedge funds have recently added to or reduced their stakes in NCNO. Capital International Investors acquired a new position in nCino in the first quarter worth approximately $60,703,000. Long Path Partners LP increased its holdings in nCino by 151.1% in the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company's stock worth $81,460,000 after buying an additional 1,558,529 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in nCino during the second quarter worth approximately $41,805,000. Senator Investment Group LP bought a new stake in nCino during the second quarter worth approximately $40,885,000. Finally, ShawSpring Partners LLC bought a new stake in nCino during the second quarter worth approximately $38,663,000. Institutional investors and hedge funds own 94.76% of the company's stock.

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.