Barclays Boosts nCino (NASDAQ:NCNO) Price Target to $44.00

nCino (NASDAQ:NCNO) had its price target increased by Barclays from $34.00 to $44.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts also recently issued reports about the company. JMP Securities reiterated a “market outperform” rating and set a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Truist Financial restated a “buy” rating and issued a $44.00 price target (up from $37.00) on shares of nCino in a research note on Monday, October 21st. The Goldman Sachs Group upgraded 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. Needham & Company LLC reduced their price target on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Finally, William Blair restated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.25.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $41.88 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. nCino has a 12 month low of $27.47 and a 12 month high of $43.20. The stock has a 50 day moving average of $36.44 and a 200-day moving average of $33.21. The company has a market capitalization of $4.84 billion, a P/E ratio of -155.11, a P/E/G ratio of 35.00 and a beta of 0.55.

nCino (NASDAQ:NCNO) last issued its earnings results on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The company had revenue of $132.40 million during the quarter, compared to the consensus estimate of $131.06 million. During the same period in the previous year, the company posted ($0.02) EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities research analysts predict that nCino will post 0.05 EPS for the current year.

Insider Transactions at nCino

In other news, Director William J. Ruh sold 10,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the transaction, the director now owns 226,201 shares of the company’s stock, valued at approximately $8,482,537.50. The trade was a 4.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeff Horing sold 1,833,975 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the transaction, the director now directly owns 12,513,467 shares of the company’s stock, valued at $458,243,161.54. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,235,029 shares of company stock valued at $117,599,204. Corporate insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

A number of institutional investors have recently modified their holdings of NCNO. Crewe Advisors LLC acquired a new position in shares of nCino during the 2nd quarter worth $26,000. Asset Management One Co. Ltd. grew its position in nCino by 21.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in nCino by 97.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after acquiring an additional 1,358 shares during the last quarter. West Tower Group LLC bought a new stake in nCino during the 3rd quarter worth $126,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in nCino during the 3rd quarter worth $152,000. Institutional investors and hedge funds 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.