nCino (NASDAQ:NCNO) Stock Rating Reaffirmed by Truist Financial

Truist Financial reiterated their buy rating on shares of nCino (NASDAQ:NCNO) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $44.00 price target on the stock, up from their prior price target of $37.00.

NCNO has been the subject of several other reports. Stephens restated an “equal weight” rating and set a $35.00 target price on shares of nCino in a research report on Wednesday, August 28th. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Tuesday, September 3rd. Piper Sandler reissued an “overweight” rating and issued a $38.00 price target on shares of nCino in a report on Wednesday, August 28th. William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Finally, Macquarie reissued an “outperform” rating and issued a $40.00 target price on shares of nCino in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.82.

nCino Trading Up 1.9 %

NCNO opened at $38.25 on Monday. The firm has a 50 day simple moving average of $32.23 and a 200 day simple moving average of $31.66. nCino has a fifty-two week low of $27.27 and a fifty-two week high of $38.33. The company has a market cap of $4.42 billion, a price-to-earnings ratio of -141.66, a price-to-earnings-growth ratio of 30.64 and a beta of 0.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08.

nCino (NASDAQ:NCNO) last posted its quarterly earnings results on Tuesday, August 27th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $131.06 million. During the same quarter in the prior year, the business posted ($0.02) EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts anticipate that nCino will post 0.05 earnings per share for the current year.

Insider Buying and Selling at nCino

In other news, Director William J. Ruh sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 226,201 shares in the company, valued at $8,482,537.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other nCino news, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $34.77, for a total value of $1,043,100.00. Following the sale, the insider now owns 341,511 shares in the company, valued at $11,874,337.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William J. Ruh sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $37.50, for a total value of $375,000.00. Following the completion of the sale, the director now directly owns 226,201 shares of the company’s stock, valued at approximately $8,482,537.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,102,466 shares of company stock worth $146,370,589 over the last ninety days. 28.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nCino

A number of large investors have recently added to or reduced their stakes in NCNO. Nomura Holdings Inc. acquired a new position in shares of nCino in the fourth quarter valued at $211,000. Norden Group LLC raised its holdings in nCino by 2,388.5% in the 1st quarter. Norden Group LLC now owns 454,665 shares of the company’s stock valued at $16,995,000 after acquiring an additional 436,394 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in nCino during the first quarter worth approximately $52,000. Principal Financial Group Inc. bought a new stake in shares of nCino during the first quarter worth approximately $220,000. Finally, SpiderRock Advisors LLC bought a new position in shares of nCino during the first quarter worth approximately $751,000. Institutional investors own 94.76% of the company’s stock.

nCino Company Profile

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.