nCino’s (NCNO) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of nCino (NASDAQ:NCNO) in a research report sent to investors on Monday, Benzinga reports. Piper Sandler currently has a $38.00 price target on the stock.

Several other analysts also recently commented on NCNO. Needham & Company LLC reissued a buy rating and issued a $42.00 price objective on shares of nCino in a research note on Thursday, May 30th. Robert W. Baird cut their price target on shares of nCino from $37.00 to $36.00 and set a neutral rating on the stock in a report on Thursday, May 30th. Stephens reiterated an equal weight rating and set a $35.00 price target on shares of nCino in a report on Thursday, May 30th. Morgan Stanley upped their price objective on nCino from $27.00 to $30.00 and gave the company an equal weight rating in a research note on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods started coverage on shares of nCino in a research report on Tuesday, April 9th. They issued an outperform rating and a $41.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $35.64.

nCino Stock Performance

Shares of NCNO stock opened at $31.26 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $30.87 and a two-hundred day simple moving average of $31.55. nCino has a 12 month low of $27.13 and a 12 month high of $37.48. The firm has a market capitalization of $3.60 billion, a PE ratio of -100.84, a price-to-earnings-growth ratio of 17.16 and a beta of 0.59.

nCino (NASDAQ:NCNO) last issued its quarterly earnings data on Wednesday, May 29th. The company reported $0.05 earnings per share (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. Analysts forecast that nCino will post 0.08 EPS for the current fiscal year.

Insider Transactions at nCino

In related news, Director Jeff Horing sold 133,487 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $31.51, for a total transaction of $4,206,175.37. Following the sale, the director now directly owns 24,879,980 shares in the company, valued at approximately $783,968,169.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Insight Holdings Group, Llc sold 2,498 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $31.51, for a total transaction of $78,711.98. Following the completion of the transaction, the director now directly owns 2,025,991 shares in the company, valued at approximately $63,838,976.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff Horing sold 133,487 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $31.51, for a total value of $4,206,175.37. Following the transaction, the director now owns 24,879,980 shares of the company’s stock, valued at $783,968,169.80. The disclosure for this sale can be found here. Insiders sold 2,419,488 shares of company stock valued at $76,254,732 over the last three months. Company insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital International Investors purchased a new position in shares of nCino in the 1st quarter worth about $60,703,000. Norges Bank purchased a new stake in shares of nCino in the 4th quarter valued at $25,336,000. Clearbridge Investments LLC grew its holdings in shares of nCino by 96.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,072,724 shares of the company’s stock valued at $36,076,000 after purchasing an additional 525,605 shares during the last quarter. Norden Group LLC raised its position in nCino by 2,388.5% in the 1st quarter. Norden Group LLC now owns 454,665 shares of the company’s stock worth $16,995,000 after purchasing an additional 436,394 shares during the period. Finally, Bamco Inc. NY lifted its stake in shares of nCino by 83.7% in the 1st quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock valued at $34,576,000 after acquiring an additional 421,500 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.