Piper Sandler Lowers nCino (NASDAQ:NCNO) Price Target to $38.00

nCino (NASDAQ:NCNOGet Free Report) had its price objective lowered by analysts at Piper Sandler from $42.00 to $38.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 24.47% from the company’s current price.

NCNO has been the subject of a number of other research reports. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Wednesday, March 27th. Robert W. Baird boosted their price objective on shares of nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of nCino in a research report on Thursday. Morgan Stanley boosted their price objective on shares of nCino from $27.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of nCino in a research report on Tuesday, April 9th. They set an “outperform” rating and a $41.00 price objective for the company. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.64.

Get Our Latest Report on NCNO

nCino Stock Performance

Shares of nCino stock opened at $30.53 on Thursday. The firm has a market cap of $3.49 billion, a PE ratio of -98.48, a price-to-earnings-growth ratio of 25.00 and a beta of 0.57. The firm’s 50-day simple moving average is $31.67 and its 200-day simple moving average is $31.32. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.17 and a current ratio of 1.17. nCino has a 1 year low of $21.32 and a 1 year high of $37.48.

nCino (NASDAQ:NCNOGet Free Report) last issued its earnings results on Tuesday, March 26th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $123.69 million for the quarter, compared to analyst estimates of $124.58 million. nCino had a negative net margin of 6.94% and a positive return on equity of 1.14%. Equities analysts forecast that nCino will post 0.05 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Jeanette Sellers sold 2,153 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $30.33, for a total value of $65,300.49. Following the completion of the transaction, the vice president now directly owns 27,360 shares in the company, valued at $829,828.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider April Rieger sold 27,513 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $36.09, for a total transaction of $992,944.17. Following the completion of the sale, the insider now directly owns 128,075 shares of the company’s stock, valued at $4,622,226.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jeanette Sellers sold 2,153 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $30.33, for a total transaction of $65,300.49. Following the sale, the vice president now directly owns 27,360 shares of the company’s stock, valued at $829,828.80. The disclosure for this sale can be found here. Insiders sold 1,114,061 shares of company stock worth $39,096,813 over the last three months. Corporate insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Several institutional investors and hedge funds have recently added to or reduced their stakes in NCNO. Capital International Investors acquired a new stake in nCino during the first quarter valued at approximately $60,703,000. Norges Bank acquired a new stake in nCino during the fourth quarter valued at approximately $25,336,000. Clearbridge Investments LLC acquired a new stake in nCino during the third quarter valued at approximately $17,398,000. Norden Group LLC lifted its stake in nCino by 2,388.5% during the first quarter. Norden Group LLC now owns 454,665 shares of the company’s stock valued at $16,995,000 after purchasing an additional 436,394 shares during the last quarter. Finally, Bamco Inc. NY lifted its stake in nCino by 83.7% during the first quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock valued at $34,576,000 after purchasing an additional 421,500 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

About nCino

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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.

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