nCino (NASDAQ:NCNO – Get Free Report) had its price target upped by analysts at JPMorgan Chase & Co. from $16.00 to $17.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 15.88% from the stock’s current price.
NCNO has been the subject of several other reports. Weiss Ratings raised shares of nCino from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Keefe, Bruyette & Woods lowered their price target on shares of nCino from $36.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Piper Sandler upgraded shares of nCino from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $30.00 to $22.00 in a research report on Wednesday, April 1st. Barclays increased their target price on nCino from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Finally, Wall Street Zen raised nCino from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.29.
Get Our Latest Analysis on nCino
nCino Trading Down 0.9%
nCino (NASDAQ:NCNO – Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.16. The business had revenue of $149.67 million for the quarter, compared to analyst estimates of $147.41 million. nCino had a net margin of 2.17% and a return on equity of 6.85%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 EPS. On average, analysts expect that nCino will post 0.68 EPS for the current year.
Insiders Place Their Bets
In related news, CEO Sean Desmond sold 8,064 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $16.26, for a total value of $131,120.64. Following the transaction, the chief executive officer owned 1,262,492 shares in the company, valued at approximately $20,528,119.92. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gregory Orenstein sold 14,650 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $263,993.00. Following the completion of the transaction, the chief financial officer owned 702,293 shares of the company’s stock, valued at $12,655,319.86. The trade was a 2.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 172,982 shares of company stock worth $3,032,059. 1.90% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its stake in nCino by 16.6% in the 1st quarter. Millennium Management LLC now owns 303,853 shares of the company’s stock valued at $8,347,000 after purchasing an additional 43,247 shares during the last quarter. Woodline Partners LP boosted its position in shares of nCino by 105.3% during the 1st quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock worth $363,000 after purchasing an additional 6,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in nCino by 16.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company’s stock valued at $7,731,000 after purchasing an additional 39,345 shares during the period. Prudential Financial Inc. purchased a new position in shares of nCino during the second quarter valued at approximately $208,000. Finally, Marshall Wace LLP bought a new position in shares of nCino during the 2nd quarter worth approximately $4,163,000. Institutional investors and hedge funds own 94.76% of the company’s stock.
nCino Company Profile
nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.
Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.
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