nCino (NASDAQ:NCNO) Given New $35.00 Price Target at JMP Securities

nCino (NASDAQ:NCNO) had its target price lifted by research analysts at JMP Securities from $32.00 to $35.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price would suggest a potential upside of 28.72% from the company’s current price.

A number of other research analysts also recently weighed in on the company. William Blair downgraded nCino from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. UBS Group set a $28.00 target price on nCino in a research report on Thursday, May 29th. Keefe, Bruyette & Woods increased their price target on nCino from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, May 29th. Stephens lifted their target price on shares of nCino from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 21st. Finally, Raymond James dropped their target price on shares of nCino from $42.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.00.

nCino Trading Up 0.1%

Shares of NCNO stock opened at $27.19 on Monday. The stock has a market capitalization of $3.15 billion, a PE ratio of -159.93, a P/E/G ratio of 5.77 and a beta of 0.76. nCino has a 1-year low of $18.75 and a 1-year high of $43.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50-day moving average of $24.44 and a 200 day moving average of $30.12.

nCino (NASDAQ:NCNO) last posted its earnings results on Tuesday, April 1st. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. The business had revenue of $141.37 million during the quarter, compared to the consensus estimate of $140.81 million. During the same period in the previous year, the business earned $0.21 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that nCino will post 0.12 earnings per share for the current year.

nCino announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 1st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Pierre Naude sold 31,123 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $20.86, for a total transaction of $649,225.78. Following the completion of the transaction, the director now directly owns 1,066,090 shares of the company’s stock, valued at approximately $22,238,637.40. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider April Rieger sold 7,881 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $20.86, for a total value of $164,397.66. Following the transaction, the insider now owns 138,072 shares of the company’s stock, valued at $2,880,181.92. This represents a 5.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 141,060 shares of company stock worth $3,101,115 in the last 90 days. 5.70% of the stock is currently owned by corporate insiders.

Institutional Trading of nCino

Several hedge funds have recently modified their holdings of NCNO. Vanguard Group Inc. grew its holdings in shares of nCino by 7.7% in the first quarter. Vanguard Group Inc. now owns 11,666,955 shares of the company’s stock valued at $320,491,000 after purchasing an additional 836,182 shares in the last quarter. Wasatch Advisors LP raised its stake in nCino by 171.9% during the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock valued at $207,450,000 after purchasing an additional 3,905,802 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in nCino by 50.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,867,463 shares of the company’s stock valued at $133,710,000 after purchasing an additional 1,626,446 shares during the last quarter. Capital International Investors grew its stake in shares of nCino by 57.4% in the 4th quarter. Capital International Investors now owns 4,691,204 shares of the company’s stock worth $157,531,000 after buying an additional 1,710,893 shares in the last quarter. Finally, Soma Equity Partners LP grew its stake in shares of nCino by 5.7% in the 4th quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company’s stock worth $97,976,000 after buying an additional 156,238 shares in the last quarter. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.