nCino’s (NCNO) Overweight Rating Reaffirmed at Piper Sandler

nCino (NASDAQ:NCNO)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a report issued on Monday, Benzinga reports. They presently have a $38.00 price objective on the stock. Piper Sandler’s price objective suggests a potential upside of 20.71% from the company’s current price.

NCNO has been the subject of several other research reports. Needham & Company LLC reissued a “buy” rating and set a $42.00 price objective on shares of nCino in a report on Thursday, May 30th. Stephens reiterated an “equal weight” rating and issued a $35.00 price objective on shares of nCino in a research report on Thursday, May 30th. Morgan Stanley boosted their price objective on nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Robert W. Baird decreased their target price on nCino from $37.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Finally, Keefe, Bruyette & Woods started coverage on nCino in a report on Tuesday, April 9th. They set an “outperform” rating and a $41.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.64.

nCino Trading Up 0.7 %

Shares of nCino stock opened at $31.48 on Monday. nCino has a 52-week low of $27.13 and a 52-week high of $37.48. The stock’s 50-day simple moving average is $30.85 and its 200 day simple moving average is $31.56. The stock has a market capitalization of $3.62 billion, a P/E ratio of -101.55, a P/E/G ratio of 17.16 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 Wednesday, May 29th. The company reported $0.05 earnings per share for the quarter. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. The firm had revenue of $128.09 million for the quarter, compared to analysts’ expectations of $126.59 million. As a group, research analysts anticipate that nCino will post 0.08 EPS for the current year.

Insider Transactions at nCino

In other news, Director Insight Holdings Group, Llc sold 2,498 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $31.51, for a total value of $78,711.98. Following the sale, the director now directly owns 2,025,991 shares of the company’s stock, valued at $63,838,976.41. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Insight Holdings Group, Llc sold 2,498 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $31.51, for a total value of $78,711.98. Following the sale, the director now directly owns 2,025,991 shares of the company’s stock, valued at $63,838,976.41. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeff Horing sold 1,871,828 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $31.51, for a total value of $58,981,300.28. Following the sale, the director now directly owns 27,141,639 shares in the company, valued at $855,233,044.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,291,001 shares of company stock valued at $72,225,056. Insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of nCino by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock valued at $266,247,000 after buying an additional 148,390 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of nCino by 18.9% during the fourth quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock valued at $75,777,000 after buying an additional 358,766 shares during the last quarter. Meritage Group LP boosted its position in shares of nCino by 2.3% during the first quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock valued at $65,451,000 after buying an additional 39,828 shares during the last quarter. Capital International Investors purchased a new stake in shares of nCino during the first quarter valued at $60,703,000. Finally, Clearbridge Investments LLC boosted its position in nCino by 14.7% in the first quarter. Clearbridge Investments LLC now owns 1,230,194 shares of the company’s stock worth $45,985,000 after purchasing an additional 157,470 shares during the last quarter. 94.76% of the stock is owned by hedge funds and other 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.