nCino (NASDAQ:NCNO) Receives Equal Weight Rating from Stephens

nCino (NASDAQ:NCNO - Get Free Report)'s stock had its "equal weight" rating reaffirmed by equities researchers at Stephens in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $38.00 price target on the stock. Stephens' target price points to a potential upside of 73.60% from the company's current price.

NCNO has been the subject of a number of other research reports. Piper Sandler reduced their target price on nCino from $38.00 to $28.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. William Blair cut shares of nCino from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. UBS Group started coverage on shares of nCino in a research report on Monday, December 16th. They set a "buy" rating and a $44.00 target price for the company. Scotiabank reissued a "sector perform" rating and issued a $19.00 target price (down previously from $35.00) on shares of nCino in a research note on Wednesday, April 2nd. Finally, Bank of America downgraded nCino from a "buy" rating to a "neutral" rating and set a $22.00 target price for the company. in a research report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $30.33.

nCino Stock Performance

NCNO traded up $0.44 during midday trading on Wednesday, reaching $21.89. The company had a trading volume of 1,085,674 shares, compared to its average volume of 1,311,738. nCino has a 12-month low of $18.75 and a 12-month high of $43.20. The business has a 50-day moving average price of $30.58 and a two-hundred day moving average price of $34.03. The stock has a market cap of $2.53 billion, a PE ratio of -128.49, a P/E/G ratio of 5.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

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

nCino declared that its board has initiated a stock buyback plan on Tuesday, April 1st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Insider Activity at nCino

In related news, CEO Sean Desmond sold 5,034 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $164,108.40. Following the completion of the transaction, the chief executive officer now directly owns 306,477 shares of the company's stock, valued at $9,991,150.20. This represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 directly owns 271,744 shares in the company, valued at approximately $8,858,854.40. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,988 shares of company stock worth $2,294,561 over the last quarter. Corporate insiders own 28.40% of the company's stock.

Institutional Inflows and Outflows

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