nCino (NASDAQ:NCNO) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of nCino (NASDAQ:NCNO) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $38.00 target price on the stock.

Several other research analysts have also recently weighed in on NCNO. Morgan Stanley upped their price objective on nCino from $27.00 to $30.00 and gave the stock an equal weight 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, May 30th. Robert W. Baird reduced their price objective on nCino from $37.00 to $36.00 and set a neutral rating for the company in a research report on Thursday, May 30th. William Blair reaffirmed an outperform rating on shares of nCino in a research report on Wednesday, June 26th. Finally, Stephens reiterated an equal weight rating and set a $35.00 target price on shares of nCino in a report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $35.64.

nCino Stock Down 0.6 %

NASDAQ:NCNO opened at $31.25 on Monday. nCino has a 1 year low of $27.13 and a 1 year high of $37.48. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -100.81, a PEG ratio of 17.16 and a beta of 0.59. The stock has a 50-day moving average price of $30.83 and a two-hundred day moving average price of $31.56.

nCino (NASDAQ:NCNO) last posted its earnings results on Wednesday, May 29th. The company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $128.09 million during the quarter, compared to analysts’ expectations of $126.59 million. nCino had a positive return on equity of 1.13% and a negative net margin of 6.94%. As a group, equities analysts expect that nCino will post 0.08 earnings per share for the current year.

Insider Buying and Selling at nCino

In other nCino news, Director Jeff Horing sold 1,871,828 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $31.51, for a total value of $58,981,300.28. Following the sale, the director now owns 27,141,639 shares in the company, valued at $855,233,044.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Spencer Lake sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the transaction, the director now owns 7,791 shares in the company, valued at $275,022.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeff Horing sold 1,871,828 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $31.51, for a total value of $58,981,300.28. Following the transaction, the director now owns 27,141,639 shares in the company, valued at approximately $855,233,044.89. The disclosure for this sale can be found here. Insiders have sold 2,291,001 shares of company stock worth $72,225,056 over the last 90 days. Company insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

A number of large investors have recently made changes to their positions in the company. Untitled Investments LP increased its stake in shares of nCino by 3.0% during the first quarter. Untitled Investments LP now owns 891,248 shares of the company’s stock worth $33,315,000 after purchasing an additional 26,260 shares during the period. Washington Harbour Partners LP increased its stake in shares of nCino by 17.1% during the first quarter. Washington Harbour Partners LP now owns 68,604 shares of the company’s stock worth $2,564,000 after purchasing an additional 10,000 shares during the period. Motley Fool Asset Management LLC bought a new position in shares of nCino during the first quarter worth approximately $1,196,000. Silvercrest Asset Management Group LLC increased its stake in shares of nCino by 18.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 454,249 shares of the company’s stock worth $16,980,000 after purchasing an additional 71,744 shares during the period. Finally, Bamco Inc. NY grew its position in nCino by 83.7% during the first quarter. Bamco Inc. NY now owns 925,000 shares of the company’s stock worth $34,576,000 after buying an additional 421,500 shares in the last quarter. 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.