nCino (NASDAQ:NCNO) Earns “Equal Weight” Rating from Stephens

Stephens reissued their equal weight rating on shares of nCino (NASDAQ:NCNO) in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a $35.00 price objective on the stock.

Several other brokerages have also recently commented on NCNO. Macquarie reiterated an outperform rating and issued a $40.00 target price on shares of nCino in a report on Tuesday, August 6th. JMP Securities started coverage on nCino in a research note on Monday, July 22nd. They issued an outperform rating and a $43.00 price target on the stock. Robert W. Baird dropped their price target on nCino from $37.00 to $36.00 and set a neutral rating on the stock in a research note on Thursday, May 30th. Needham & Company LLC reissued a buy rating and issued a $42.00 price target on shares of nCino in a research note on Thursday, May 30th. Finally, The Goldman Sachs Group raised nCino from a neutral rating to a buy rating and boosted their price target for the company from $34.00 to $42.00 in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $38.00.

nCino Stock Performance

Shares of NCNO stock opened at $29.96 on Wednesday. The business’s 50 day simple moving average is $32.25 and its 200 day simple moving average is $31.42. nCino has a one year low of $27.13 and a one year high of $37.48. The stock has a market capitalization of $3.45 billion, a PE ratio of -96.65, a PEG ratio of 17.54 and a beta of 0.59. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.07 and a quick ratio of 1.07.

nCino (NASDAQ:NCNO) last announced its earnings results on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. The business had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. As a group, research analysts forecast that nCino will post 0.08 earnings per share for the current year.

Insider Transactions at nCino

In other news, CEO Pierre Naude sold 14,101 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $30.15, for a total transaction of $425,145.15. Following the transaction, the chief executive officer now directly owns 1,114,239 shares of the company’s stock, valued at $33,594,305.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Insight Holdings Group, Llc sold 1,981,514 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $31.08, for a total transaction of $61,585,455.12. Following the completion of the sale, the director now owns 1,545,347 shares in the company, valued at $48,029,384.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Pierre Naude sold 14,101 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $30.15, for a total value of $425,145.15. Following the sale, the chief executive officer now owns 1,114,239 shares of the company’s stock, valued at approximately $33,594,305.85. The disclosure for this sale can be found here. Insiders have sold 6,642,425 shares of company stock valued at $212,241,592 over the last ninety days. 28.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On nCino

Several institutional investors have recently bought and sold shares of NCNO. Capital International Investors bought a new stake in nCino during the first quarter worth $60,703,000. Long Path Partners LP grew its holdings in nCino by 151.1% during the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after buying an additional 1,558,529 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in nCino during the second quarter worth $41,805,000. Senator Investment Group LP bought a new stake in nCino during the second quarter worth $40,885,000. Finally, ShawSpring Partners LLC bought a new position in nCino in the 2nd quarter valued at $38,663,000. Institutional investors own 94.76% of the company’s stock.

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.