nCino (NASDAQ:NCNO) Rating Increased to Buy at The Goldman Sachs Group

nCino (NASDAQ:NCNO - Get Free Report) was upgraded by stock analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a $42.00 price target on the stock, up from their previous price target of $34.00. The Goldman Sachs Group's price objective would indicate a potential upside of 26.89% from the stock's previous close.

A number of other brokerages have also issued reports on NCNO. JMP Securities assumed coverage on nCino in a research note on Monday, July 22nd. They issued an "outperform" rating and a $43.00 price target on the stock. Robert W. Baird decreased their target price on shares of nCino from $37.00 to $36.00 and set a "neutral" rating on the stock in a research report on Thursday, May 30th. Stephens reaffirmed an "equal weight" rating and set a $35.00 price target on shares of nCino in a research report on Thursday, May 30th. Needham & Company LLC reiterated a "buy" rating and issued a $42.00 price target on shares of nCino in a report on Thursday, May 30th. Finally, William Blair reissued an "outperform" rating on shares of nCino in a research note on Wednesday, June 26th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, nCino presently has a consensus rating of "Moderate Buy" and an average price target of $37.31.

nCino Trading Up 2.3 %

Shares of NASDAQ:NCNO traded up $0.75 during trading on Wednesday, reaching $33.10. The stock had a trading volume of 1,737,076 shares, compared to its average volume of 989,929. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.81 billion, a P/E ratio of -104.35, a PEG ratio of 17.54 and a beta of 0.59. The business has a fifty day moving average price of $31.62 and a 200-day moving average price of $31.25. nCino has a fifty-two week low of $27.13 and a fifty-two week high of $37.48.

nCino (NASDAQ:NCNO - Get Free Report) last released its earnings results on Wednesday, May 29th. The company reported $0.05 EPS for the quarter. nCino had a negative net margin of 6.94% and a positive return on equity of 1.13%. The firm had revenue of $128.09 million during the quarter, compared to analysts' expectations of $126.59 million. As a group, analysts anticipate that nCino will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at nCino

In related news, insider Sean Desmond sold 5,988 shares of the business's stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $30.15, for a total transaction of $180,538.20. Following the transaction, the insider now directly owns 370,790 shares of the company's stock, valued at approximately $11,179,318.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other nCino news, VP Jeanette Sellers sold 1,143 shares of the company's stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total value of $34,461.45. Following the completion of the transaction, the vice president now directly owns 26,217 shares of the company's stock, valued at approximately $790,442.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sean Desmond sold 5,988 shares of the firm's stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total value of $180,538.20. Following the sale, the insider now owns 370,790 shares of the company's stock, valued at $11,179,318.50. The disclosure for this sale can be found here. Insiders sold 5,841,870 shares of company stock valued at $185,694,171 over the last quarter. Company insiders own 28.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC purchased a new position in shares of nCino during the 2nd quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of nCino in the 1st quarter worth about $52,000. Covestor Ltd increased its position in shares of nCino by 29.6% in the 1st quarter. Covestor Ltd now owns 2,736 shares of the company's stock worth $102,000 after purchasing an additional 625 shares during the last quarter. Amalgamated Bank raised its stake in shares of 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 purchasing an additional 1,134 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of nCino by 145.6% during the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company's stock worth $168,000 after purchasing an additional 2,677 shares during the last quarter. Hedge funds and other institutional investors 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.