nCino (NASDAQ:NCNO) Rating Reiterated by Truist Financial

Truist Financial reaffirmed their buy rating on shares of nCino (NASDAQ:NCNO - Free Report) in a research report released on Monday, Benzinga reports. The firm currently has a $44.00 target price on the stock, up from their prior target price of $37.00.

NCNO has been the topic of several other reports. The Goldman Sachs Group upgraded nCino from a "neutral" rating to a "buy" rating and raised their target price for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Stephens restated an "equal weight" rating and set a $35.00 price objective on shares of nCino in a research note on Wednesday, August 28th. William Blair reiterated an "outperform" rating on shares of nCino in a research report on Wednesday, August 28th. Needham & Company LLC dropped their price target on shares of nCino from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, August 28th. Finally, Macquarie reaffirmed an "outperform" rating and issued a $40.00 price target on shares of nCino in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.82.

nCino Stock Performance

NCNO stock traded up $0.63 during mid-day trading on Monday, reaching $37.21. The company had a trading volume of 1,539,722 shares, compared to its average volume of 1,077,828. nCino has a one year low of $27.13 and a one year high of $37.73. The stock has a market capitalization of $4.28 billion, a P/E ratio of -120.03, a P/E/G 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. The stock's 50-day simple moving average is $31.86 and its two-hundred day simple moving average is $31.53.

nCino (NASDAQ:NCNO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The firm had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. During the same period last year, the firm posted ($0.02) EPS. nCino's quarterly revenue was up 13.0% compared to the same quarter last year. Research analysts anticipate that nCino will post 0.05 EPS for the current year.

Insider Buying and Selling at nCino

In related news, Director Jeff Horing sold 1,833,975 shares of nCino stock in a transaction on Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the transaction, the director now directly owns 12,513,467 shares in the company, valued at $458,243,161.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Gregory Orenstein sold 3,885 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 276,892 shares of the company's stock, valued at approximately $9,705,064.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeff Horing sold 1,833,975 shares of nCino stock in a transaction that occurred 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 owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. 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 90 days, insiders have sold 5,014,080 shares of company stock valued at $176,869,658. Corporate insiders own 28.40% of the company's stock.

Institutional Trading of nCino

Several hedge funds and other institutional investors have recently modified their holdings of NCNO. Crewe Advisors LLC acquired a new stake in nCino during the 2nd quarter worth about $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in nCino during the first quarter valued at approximately $52,000. Covestor Ltd increased 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 during the period. Amalgamated Bank lifted its position in nCino by 28.1% in the 2nd quarter. Amalgamated Bank now owns 5,174 shares of the company's stock worth $163,000 after buying an additional 1,134 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of nCino by 145.6% during 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 during the period. 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.