nCino, Inc. (NASDAQ:NCNO) Receives $53.26 Consensus Target Price from Analysts

nCino, Inc. (NASDAQ:NCNOGet Rating) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $53.26.

A number of brokerages have issued reports on NCNO. Stephens decreased their price target on nCino to $40.00 in a research note on Friday, June 3rd. Needham & Company LLC decreased their price target on nCino from $60.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, June 2nd. Piper Sandler decreased their price target on nCino from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, June 2nd. Morgan Stanley decreased their price target on nCino from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, June 2nd. Finally, Truist Financial reduced their price objective on nCino from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, June 2nd.

In related news, VP Jeanette Sellers sold 13,566 shares of the firm’s stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $42.76, for a total transaction of $580,082.16. Following the sale, the vice president now directly owns 27,940 shares in the company, valued at approximately $1,194,714.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joshua L. Glover sold 1,663 shares of the firm’s stock in a transaction dated Wednesday, April 6th. The shares were sold at an average price of $43.63, for a total value of $72,556.69. Following the sale, the insider now owns 228,255 shares in the company, valued at $9,958,765.65. The disclosure for this sale can be found here. Insiders sold a total of 235,478 shares of company stock worth $9,003,239 over the last ninety days. Corporate insiders own 37.20% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System increased its holdings in nCino by 59.4% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 52,587 shares of the company’s stock worth $2,885,000 after purchasing an additional 19,596 shares during the last quarter. Dragoneer Investment Group LLC increased its holdings in nCino by 481.7% during the 4th quarter. Dragoneer Investment Group LLC now owns 1,599,650 shares of the company’s stock worth $87,757,000 after purchasing an additional 1,324,650 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in nCino by 41.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 908,509 shares of the company’s stock worth $49,841,000 after purchasing an additional 268,139 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in nCino by 43.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,540,199 shares of the company’s stock worth $139,355,000 after purchasing an additional 769,036 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in nCino by 21.3% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 52,438 shares of the company’s stock worth $3,725,000 after purchasing an additional 9,204 shares during the last quarter.

nCino stock opened at $32.64 on Thursday. The stock has a market cap of $3.60 billion, a PE ratio of -51.81 and a beta of 0.91. The stock has a 50-day moving average price of $33.92 and a 200 day moving average price of $42.93. nCino has a 52 week low of $23.94 and a 52 week high of $79.43. The company has a current ratio of 3.62, a quick ratio of 3.62 and a debt-to-equity ratio of 0.08.

nCino (NASDAQ:NCNOGet Rating) last issued its quarterly earnings results on Wednesday, June 1st. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). nCino had a negative return on equity of 13.52% and a negative net margin of 21.30%. The business had revenue of $94.21 million during the quarter, compared to analyst estimates of $91.42 million. During the same period in the previous year, the business posted ($0.11) earnings per share. The firm’s quarterly revenue was up 51.1% on a year-over-year basis. On average, equities analysts predict that nCino will post -0.7 EPS for the current year.

About nCino (Get Rating)

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, a tenant cloud platform, which digitizes, automates, and streamlines complex processes and workflow; and utilizes data analytics and artificial intelligence and machine learning (AI/ML) to enable banks and credit unions to onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts, and manage regulatory compliance.

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Analyst Recommendations for nCino (NASDAQ:NCNO)

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