nCino (NASDAQ:NCNO) Stock Rating Reaffirmed by Truist Financial

nCino (NASDAQ:NCNO)‘s stock had its “buy” rating reissued by equities research analysts at Truist Financial in a research report issued on Monday, Benzinga reports. They currently have a $44.00 target price on the stock, up from their previous target price of $37.00. Truist Financial’s price objective would suggest a potential upside of 17.65% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Needham & Company LLC decreased their target price on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Stephens reaffirmed an “equal weight” rating and issued a $35.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price on shares of nCino in a research note on Wednesday, August 28th. William Blair reaffirmed an “outperform” rating on shares of nCino in a report 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, August 28th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, nCino presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.82.

nCino Stock Up 2.2 %

Shares of NASDAQ NCNO traded up $0.82 during trading on Monday, hitting $37.40. The stock had a trading volume of 491,612 shares, compared to its average volume of 1,072,719. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a fifty day moving average of $31.86 and a two-hundred day moving average of $31.53. nCino has a 12 month low of $27.13 and a 12 month high of $37.73. The company has a market capitalization of $4.30 billion, a PE ratio of -120.65, a PEG ratio of 26.59 and a beta of 0.59.

nCino (NASDAQ:NCNO) last posted its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $132.40 million during the quarter, compared to analyst estimates of $131.06 million. nCino had a negative net margin of 5.78% and a positive return on equity of 1.06%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS. As a group, equities research analysts forecast that nCino will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeff Horing sold 1,356,721 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $36.02, for a total transaction of $48,869,090.42. Following the completion of the transaction, the director now directly owns 14,656,746 shares in the company, valued at $527,935,990.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other nCino news, Director Insight Holdings Group, Llc sold 16,882 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $33.11, for a total value of $558,963.02. Following the transaction, the director now directly owns 1,381,929 shares in the company, valued at $45,755,669.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeff Horing sold 1,356,721 shares of nCino stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $36.02, for a total value of $48,869,090.42. Following the sale, the director now owns 14,656,746 shares of the company’s stock, valued at approximately $527,935,990.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,180,105 shares of company stock worth $109,709,493 in the last three months. 28.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nCino

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

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.