nCino, Inc. (NASDAQ:NCNO) Receives Consensus Recommendation of “Buy” from Analysts

Shares of nCino, Inc. (NASDAQ:NCNO) have earned an average recommendation of “Buy” from the fourteen research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $85.00.

Several analysts have recently commented on NCNO shares. Gabelli upgraded shares of nCino from a “hold” rating to a “buy” rating in a research report on Friday, May 14th. G.Research raised shares of nCino from a “hold” rating to a “buy” rating in a research note on Friday, May 14th. Zacks Investment Research cut shares of nCino from a “hold” rating to a “sell” rating in a research note on Wednesday. Wells Fargo & Company started coverage on shares of nCino in a research note on Wednesday. They set an “equal weight” rating and a $70.00 target price for the company. Finally, Robert W. Baird started coverage on shares of nCino in a research note on Wednesday, February 17th. They set a “neutral” rating and a $85.00 target price for the company.

In other news, insider Gregory Orenstein sold 26,500 shares of the stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $68.83, for a total transaction of $1,823,995.00. Following the sale, the insider now owns 27,266 shares of the company’s stock, valued at $1,876,718.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeanette Sellers sold 1,791 shares of the stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $62.28, for a total transaction of $111,543.48. Following the sale, the vice president now directly owns 8,028 shares in the company, valued at approximately $499,983.84. The disclosure for this sale can be found here. Insiders have sold 458,696 shares of company stock valued at $30,921,715 over the last 90 days. 35.40% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in nCino by 38.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,076,629 shares of the company’s stock valued at $805,753,000 after acquiring an additional 3,354,680 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in nCino by 5.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,557,873 shares of the company’s stock valued at $304,101,000 after acquiring an additional 255,885 shares in the last quarter. HMI Capital Management L.P. acquired a new stake in nCino in the first quarter valued at approximately $159,212,000. BlackRock Inc. raised its holdings in nCino by 131.4% in the first quarter. BlackRock Inc. now owns 1,632,459 shares of the company’s stock valued at $108,916,000 after acquiring an additional 927,038 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in nCino by 113.4% during the first quarter. Nuveen Asset Management LLC now owns 1,355,972 shares of the company’s stock worth $90,470,000 after purchasing an additional 720,704 shares in the last quarter. 88.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NCNO stock traded up $2.15 on Friday, hitting $64.11. 19,514 shares of the stock traded hands, compared to its average volume of 1,147,530. The stock has a market cap of $6.12 billion and a price-to-earnings ratio of -115.93. nCino has a 52 week low of $48.00 and a 52 week high of $103.95. The business has a 50 day moving average price of $62.91. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.04.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, June 1st. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $62.36 million for the quarter, compared to the consensus estimate of $59.36 million. nCino had a negative net margin of 23.72% and a negative return on equity of 9.82%. The company’s revenue was up 39.5% on a year-over-year basis. During the same period last year, the firm earned ($0.04) EPS. Analysts forecast that nCino will post -0.53 earnings per share for the current fiscal year.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications for 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 financial institutions 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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