nCino (NASDAQ:NCNO) Reaches New 1-Year Low Following Analyst Downgrade

nCino, Inc. (NASDAQ:NCNO - Get Free Report)'s share price reached a new 52-week low on Thursday after Keefe, Bruyette & Woods lowered their price target on the stock from $40.00 to $28.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. nCino traded as low as $18.75 and last traded at $22.59, with a volume of 20082539 shares. The stock had previously closed at $28.12.

Several other equities analysts have also recently issued reports on NCNO. Macquarie boosted their price target on shares of nCino from $40.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Morgan Stanley reduced their target price on nCino from $39.00 to $23.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 2nd. Raymond James lowered their target price on nCino from $42.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. KeyCorp reaffirmed a "sector weight" rating on shares of nCino in a research note on Monday, February 3rd. Finally, Stephens reissued an "equal weight" rating and set a $38.00 price objective on shares of nCino in a research report on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $30.33.

Insiders Place Their Bets

In related news, CEO Sean Desmond sold 7,880 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $164,376.80. Following the sale, the chief executive officer now directly owns 298,597 shares of the company's stock, valued at $6,228,733.42. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Pierre Naude sold 31,123 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total value of $649,225.78. Following the completion of the transaction, the director now directly owns 1,066,090 shares of the company's stock, valued at approximately $22,238,637.40. This trade represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,988 shares of company stock valued at $2,294,561. Corporate insiders own 28.40% of the company's stock.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in 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 buying an additional 948,282 shares during the last quarter. Wasatch Advisors LP lifted its holdings in nCino by 171.9% in the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock valued at $207,450,000 after acquiring an additional 3,905,802 shares during the period. Capital International Investors boosted its position in nCino by 57.4% in the fourth quarter. Capital International Investors now owns 4,691,204 shares of the company's stock worth $157,531,000 after purchasing an additional 1,710,893 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of 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 during the period. Finally, Soma Equity Partners LP grew its stake in shares of nCino by 5.7% during the 4th quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company's stock valued at $97,976,000 after purchasing an additional 156,238 shares during the period. Institutional investors own 94.76% of the company's stock.

nCino Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market cap of $2.52 billion, a PE ratio of -127.76, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The company's 50-day moving average price is $30.34 and its 200 day moving average price is $33.97.

nCino (NASDAQ:NCNO - Get Free Report) last announced its earnings results on Tuesday, April 1st. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $141.37 million for the quarter, compared to analysts' expectations of $140.81 million. During the same period in the prior year, the company posted $0.21 earnings per share. The firm's quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts forecast that nCino, Inc. will post 0.12 EPS for the current fiscal year.

nCino declared that its board has approved a stock repurchase program on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

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.