nCino (NASDAQ:NCNO) Given New $58.00 Price Target at Barclays

nCino (NASDAQ:NCNO) had its price objective lowered by Barclays from $70.00 to $58.00 in a research report released on Tuesday, The Fly reports. Barclays currently has an equal weight rating on the stock.

Several other equities analysts have also issued reports on NCNO. Truist Securities lowered their target price on shares of nCino from $100.00 to $90.00 and set a buy rating for the company in a report on Thursday, December 2nd. Truist reduced their target price on shares of nCino from $100.00 to $90.00 and set a buy rating on the stock in a report on Thursday, December 2nd. KeyCorp dropped their target price on shares of nCino from $80.00 to $75.00 and set an overweight rating on the stock in a research note on Thursday, December 2nd. Finally, Stephens initiated coverage on shares of nCino in a research report on Thursday, November 18th. They set an overweight rating and a $80.00 target price for the company. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $77.69.

nCino stock opened at $46.12 on Tuesday. The firm has a market cap of $4.46 billion, a PE ratio of -82.36 and a beta of 1.01. nCino has a one year low of $45.91 and a one year high of $86.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.62 and a quick ratio of 3.62. The stock’s fifty day moving average price is $58.14 and its two-hundred day moving average price is $64.58.

nCino (NASDAQ:NCNO) last released its earnings results on Wednesday, December 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $70.04 million during the quarter, compared to analyst estimates of $66.62 million. nCino had a negative return on equity of 9.40% and a negative net margin of 21.89%. nCino’s quarterly revenue was up 29.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) earnings per share. Sell-side analysts expect that nCino will post -0.5 earnings per share for the current fiscal year.

In other news, Director Jeffrey W. Lunsford sold 1,289 shares of the firm’s stock in a transaction that occurred on Wednesday, December 1st. The stock was sold at an average price of $61.17, for a total value of $78,848.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Rudow sold 11,169 shares of the firm’s stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $75.46, for a total value of $842,812.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,617 shares of company stock valued at $4,147,539. 35.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of NCNO. Advisor Group Holdings Inc. grew its holdings in shares of nCino by 28.8% in the second quarter. Advisor Group Holdings Inc. now owns 8,975 shares of the company’s stock valued at $538,000 after acquiring an additional 2,006 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of nCino by 20.3% during the second quarter. Victory Capital Management Inc. now owns 7,218 shares of the company’s stock worth $433,000 after acquiring an additional 1,220 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in nCino by 65.0% in the second quarter. Envestnet Asset Management Inc. now owns 27,244 shares of the company’s stock valued at $1,632,000 after acquiring an additional 10,737 shares during the last quarter. Swiss National Bank bought a new position in shares of nCino during the second quarter valued at about $3,739,000. Finally, Sei Investments Co. lifted its holdings in nCino by 27.3% in the second quarter. Sei Investments Co. now owns 23,778 shares of the company’s stock worth $1,425,000 after buying an additional 5,100 shares during the period. 94.02% of the stock is currently owned by institutional investors and hedge funds.

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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