nCino (NASDAQ:NCNO) Given New $32.00 Price Target at Raymond James

nCino (NASDAQ:NCNO - Get Free Report) had its target price dropped by equities researchers at Raymond James from $42.00 to $32.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Raymond James' price target would indicate a potential upside of 47.33% from the stock's current price.

NCNO has been the topic of several other reports. Stephens restated an "equal weight" rating and set a $38.00 price target on shares of nCino in a report on Wednesday, April 2nd. William Blair lowered shares of nCino from an "outperform" rating to a "market perform" rating 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. Morgan Stanley cut their price objective on shares of nCino from $39.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group downgraded nCino from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $42.00 to $24.00 in a research note on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $30.33.

nCino Trading Up 1.3 %

Shares of NASDAQ NCNO traded up $0.27 during trading on Wednesday, reaching $21.72. The company had a trading volume of 4,773,725 shares, compared to its average volume of 1,326,039. The stock has a market cap of $2.52 billion, a P/E ratio of -127.76, a PEG ratio of 5.77 and a beta of 0.69. The company's fifty day moving average price is $30.58 and its 200-day moving average price is $34.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino has a 12 month low of $18.75 and a 12 month high of $43.20.

nCino (NASDAQ:NCNO - Get Free Report) last issued 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 business had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The business's revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 earnings per share. As a group, research analysts expect that nCino will post 0.12 earnings per share for the current year.

nCino declared that its board has initiated a share buyback program on Tuesday, April 1st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at nCino

In related news, CEO Sean Desmond sold 7,880 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 298,597 shares of the company's stock, valued at approximately $6,228,733.42. This trade represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider April Rieger sold 4,325 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the completion of the transaction, the insider now owns 145,953 shares of the company's stock, valued at $4,758,067.80. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,988 shares of company stock worth $2,294,561 in the last quarter. 28.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans bought a new position in nCino during the third quarter valued at $689,000. Charles Schwab Investment Management Inc. increased its holdings in nCino by 51.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company's stock worth $17,588,000 after acquiring an additional 189,283 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in nCino by 16.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 23,884 shares of the company's stock valued at $754,000 after acquiring an additional 3,417 shares during the period. FMR LLC lifted its holdings in nCino by 2.4% during the third quarter. FMR LLC now owns 1,237,227 shares of the company's stock valued at $39,084,000 after purchasing an additional 29,501 shares during the last quarter. Finally, Glenmede Trust Co. NA purchased a new position in shares of nCino in the third quarter worth about $485,000. 94.76% of the stock is owned by institutional investors.

nCino Company Profile

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.