nCino (NASDAQ:NCNO) Given New $44.00 Price Target at Barclays

nCino (NASDAQ:NCNO) had its price objective boosted by Barclays from $34.00 to $44.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on NCNO. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Tuesday, September 3rd. Stephens restated an “equal weight” rating and issued a $35.00 price target on shares of nCino in a research note on Wednesday, August 28th. Truist Financial reiterated a “buy” rating and set a $44.00 target price (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Piper Sandler reiterated an “overweight” rating and set a $38.00 target price on shares of nCino in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $42.00 in a research report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.25.

nCino Trading Up 1.9 %

NCNO opened at $42.20 on Monday. The firm has a market cap of $4.88 billion, a P/E ratio of -156.29, a P/E/G ratio of 34.35 and a beta of 0.55. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. nCino has a 52 week low of $27.47 and a 52 week high of $43.20. The business has a fifty day simple moving average of $35.95 and a 200-day simple moving average of $33.07.

nCino (NASDAQ:NCNO) last announced its quarterly earnings data on Tuesday, August 27th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $132.40 million for the quarter, compared to analysts’ expectations of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.02) earnings per share. On average, equities analysts expect that nCino will post 0.05 earnings per share for the current year.

Insider Buying and Selling

In other nCino news, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Desmond sold 30,000 shares of nCino stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the sale, the insider now directly owns 341,511 shares in the company, valued at $11,874,337.47. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,235,029 shares of company stock valued at $117,599,204 over the last quarter. 28.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On nCino

A number of institutional investors have recently added to or reduced their stakes in the business. Simplicity Wealth LLC acquired a new stake in shares of nCino during the 2nd quarter valued at approximately $3,530,000. Select Equity Group L.P. lifted its position in shares of nCino by 182.0% during the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after acquiring an additional 16,416 shares during the period. Vanderbilt University lifted its position in shares of nCino by 192.3% during the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after acquiring an additional 92,481 shares during the period. Lecap Asset Management Ltd. acquired a new stake in shares of nCino during the 3rd quarter valued at approximately $745,000. Finally, Raymond James & Associates lifted its position in shares of nCino by 25.1% during the 3rd quarter. Raymond James & Associates now owns 504,734 shares of the company’s stock valued at $15,945,000 after acquiring an additional 101,305 shares during the period. Hedge funds and other 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.