nCino, Inc. (NASDAQ:NCNO) Given Average Recommendation of "Hold" by Analysts

nCino, Inc. (NASDAQ:NCNO - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seventeen research firms that are covering the firm, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $30.60.

Several analysts have issued reports on NCNO shares. Morgan Stanley dropped their price objective on nCino from $39.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 2nd. The Goldman Sachs Group cut shares of nCino from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $42.00 to $24.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price target on shares of nCino from $40.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Piper Sandler decreased their target price on nCino from $38.00 to $28.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group set a $40.00 price target on nCino in a research note on Friday, March 28th.

nCino Stock Down 4.2 %

Shares of NASDAQ:NCNO traded down $1.03 during midday trading on Friday, reaching $23.40. The company had a trading volume of 3,313,042 shares, compared to its average volume of 1,356,320. nCino has a 1-year low of $18.75 and a 1-year high of $43.20. The stock has a market cap of $2.72 billion, a PE ratio of -137.64, a P/E/G ratio of 5.77 and a beta of 0.69. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The business's 50 day moving average price is $29.25 and its 200 day moving average price is $33.67.

nCino (NASDAQ:NCNO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.06). The company had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. Research analysts forecast that nCino will post 0.12 EPS for the current fiscal year.

nCino declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 1st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at nCino

In related news, CFO Gregory Orenstein sold 5,148 shares of nCino stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $167,824.80. Following the sale, the chief financial officer now owns 271,744 shares of the company's stock, valued at approximately $8,858,854.40. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sean Desmond sold 2,301 shares of the company's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $22.31, for a total value of $51,335.31. Following the transaction, the chief executive officer now directly owns 296,296 shares in the company, valued at $6,610,363.76. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,012 shares of company stock valued at $2,694,676. Company insiders own 28.40% of the company's stock.

Hedge Funds Weigh In On nCino

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of nCino by 9.6% during the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company's stock valued at $363,697,000 after purchasing an additional 948,282 shares during the period. Wasatch Advisors LP grew its holdings in nCino by 171.9% during the 4th quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock valued at $207,450,000 after buying an additional 3,905,802 shares in the last quarter. Capital International Investors increased its position in shares of nCino by 57.4% during the fourth quarter. Capital International Investors now owns 4,691,204 shares of the company's stock valued at $157,531,000 after buying an additional 1,710,893 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of nCino by 139.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock worth $108,834,000 after buying an additional 1,889,283 shares in the last quarter. Finally, Soma Equity Partners LP boosted its position in shares of nCino by 5.7% in the fourth quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company's stock valued at $97,976,000 after acquiring an additional 156,238 shares during the period. 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.