Macquarie Reiterates “Outperform” Rating for nCino (NASDAQ:NCNO)

Macquarie reiterated their outperform rating on shares of nCino (NASDAQ:NCNO) in a research note published on Wednesday morning, Benzinga reports. They currently have a $40.00 price objective on the stock.

NCNO has been the topic of several other reports. Needham & Company LLC dropped their price objective on nCino from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. William Blair restated an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. JMP Securities restated a “market outperform” rating and set a $43.00 price objective on shares of nCino in a report on Wednesday, August 28th. Piper Sandler restated an “overweight” rating and set a $38.00 price objective on shares of nCino in a report on Wednesday, August 28th. Finally, Truist Financial restated a “buy” rating and set a $44.00 price objective (up from $37.00) on shares of nCino in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.82.

nCino Stock Performance

Shares of NASDAQ:NCNO opened at $37.83 on Wednesday. The company has a market cap of $4.35 billion, a P/E ratio of -122.03, a PEG ratio of 30.64 and a beta of 0.59. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. nCino has a one year low of $27.27 and a one year high of $38.48. The business’s 50-day simple moving average is $32.31 and its 200 day simple moving average is $31.66.

nCino (NASDAQ:NCNO) last announced its earnings results on Tuesday, August 27th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $132.40 million for the quarter, compared to the consensus estimate of $131.06 million. nCino had a positive return on equity of 1.06% and a negative net margin of 5.78%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the business posted ($0.02) EPS. On average, sell-side analysts forecast that nCino will post 0.05 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the sale, the chief financial officer now directly owns 276,892 shares in the company, valued at approximately $9,705,064.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $35.05, for a total transaction of $136,169.25. Following the completion of the transaction, the chief financial officer now owns 276,892 shares in the company, valued at $9,705,064.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeff Horing sold 1,833,975 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $36.62, for a total value of $67,160,164.50. Following the transaction, the director now owns 12,513,467 shares of the company’s stock, valued at $458,243,161.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,102,466 shares of company stock worth $146,370,589. 28.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its position in nCino by 8.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock valued at $244,766,000 after purchasing an additional 635,064 shares during the period. Vanguard Group Inc. boosted its position in nCino by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,122,722 shares of the company’s stock worth $266,247,000 after acquiring an additional 148,390 shares during the period. Long Path Partners LP boosted its position in nCino by 151.1% during the 2nd quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after acquiring an additional 1,558,529 shares during the period. Meritage Group LP boosted its position in nCino by 2.3% during the 1st quarter. Meritage Group LP now owns 1,750,954 shares of the company’s stock worth $65,451,000 after acquiring an additional 39,828 shares during the period. Finally, Capital International Investors acquired a new position in nCino during the 1st quarter worth $60,703,000. Institutional investors and hedge funds 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.