nCino’s (NCNO) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of nCino (NASDAQ:NCNO) in a research report released on Wednesday, Benzinga reports. They currently have a $43.00 price objective on the stock.

NCNO has been the topic of several other reports. Stephens reiterated an equal weight rating and set a $35.00 price target on shares of nCino in a research report on Wednesday. The Goldman Sachs Group upgraded nCino from a neutral rating to a buy rating and upped their price target for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Macquarie reiterated an outperform rating and set a $40.00 price target on shares of nCino in a research report on Tuesday, August 6th. William Blair reissued an outperform rating on shares of nCino in a report on Wednesday, June 26th. Finally, Needham & Company LLC cut their price objective on nCino from $42.00 to $40.00 and set a buy rating for the company in a report on Wednesday. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $38.00.

nCino Trading Down 0.8 %

Shares of nCino stock opened at $29.96 on Wednesday. The stock’s 50-day simple moving average is $32.25 and its 200 day simple moving average is $31.42. nCino has a 52-week low of $27.13 and a 52-week high of $37.48. The stock has a market capitalization of $3.45 billion, a P/E ratio of -96.65, a P/E/G ratio of 17.54 and a beta of 0.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.07 and a current ratio of 1.07.

nCino (NASDAQ:NCNO) last announced its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. The firm had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. As a group, research analysts anticipate that nCino will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other nCino news, insider Sean Desmond sold 5,988 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total transaction of $180,538.20. Following the transaction, the insider now directly owns 370,790 shares in the company, valued at $11,179,318.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other nCino news, insider Sean Desmond sold 5,988 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total transaction of $180,538.20. Following the transaction, the insider now directly owns 370,790 shares in the company, valued at $11,179,318.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gregory Orenstein sold 7,943 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $30.15, for a total transaction of $239,481.45. Following the transaction, the chief financial officer now owns 276,892 shares in the company, valued at $8,348,293.80. The disclosure for this sale can be found here. Insiders sold a total of 6,642,425 shares of company stock valued at $212,241,592 over the last quarter. 28.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC bought a new position in nCino during the second quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of nCino in the first quarter worth approximately $52,000. Covestor Ltd grew its holdings in shares of nCino by 29.6% in the first quarter. Covestor Ltd now owns 2,736 shares of the company’s stock worth $102,000 after purchasing an additional 625 shares during the last quarter. Amalgamated Bank grew its holdings in shares of nCino by 28.1% in the second quarter. Amalgamated Bank now owns 5,174 shares of the company’s stock worth $163,000 after purchasing an additional 1,134 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of nCino by 145.6% in the first quarter. Lazard Asset Management LLC now owns 4,516 shares of the company’s stock worth $168,000 after purchasing an additional 2,677 shares during the last quarter. 94.76% of the stock is currently 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.