Barclays Issues Positive Forecast for nCino (NASDAQ:NCNO) Stock Price

nCino (NASDAQ:NCNO) had its target price upped by stock analysts at Barclays from $34.00 to $44.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 6.02% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. JMP Securities restated a “market outperform” rating and set a $43.00 price target on shares of nCino in a research report on Wednesday, August 28th. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Tuesday, September 3rd. Truist Financial restated a “buy” rating and set a $44.00 target price (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Needham & Company LLC decreased their price objective on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. Finally, Macquarie reissued an “outperform” rating and set a $40.00 price objective on shares of nCino in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

nCino Stock Up 0.2 %

nCino stock opened at $41.50 on Monday. nCino has a fifty-two week low of $27.47 and a fifty-two week high of $43.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50-day simple moving average is $35.70 and its 200 day simple moving average is $32.99. The stock has a market cap of $4.80 billion, a PE ratio of -153.70, a price-to-earnings-growth ratio of 34.35 and a beta of 0.55.

nCino (NASDAQ:NCNO) last announced its earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.02) EPS. Research analysts predict that nCino will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeff Horing sold 1,833,975 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50. Following the completion of the sale, the director now directly owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. The trade was a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William J. Ruh sold 10,000 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the sale, the director now directly owns 226,201 shares of the company’s stock, valued at $8,482,537.50. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,235,029 shares of company stock valued at $117,599,204 in the last quarter. Corporate insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Several hedge funds have recently added to or reduced their stakes in the business. Simplicity Wealth LLC purchased a new stake in shares of nCino during the second quarter valued at approximately $3,530,000. Select Equity Group L.P. boosted its position in nCino by 182.0% during the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after buying an additional 16,416 shares during the period. Vanderbilt University boosted its position in nCino by 192.3% during the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after buying an additional 92,481 shares during the period. Lecap Asset Management Ltd. bought a new stake in nCino in the 3rd quarter worth $745,000. Finally, Raymond James & Associates increased its position in shares of nCino by 25.1% in the third quarter. Raymond James & Associates now owns 504,734 shares of the company’s stock valued at $15,945,000 after acquiring an additional 101,305 shares during the period. 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.