nCino (NASDAQ:NCNO) Reaches New 1-Year Low Following Analyst Downgrade

nCino, Inc. (NASDAQ:NCNO)’s share price reached a new 52-week low during mid-day trading on Thursday after Keefe, Bruyette & Woods lowered their price target on the stock from $40.00 to $28.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. nCino traded as low as $18.75 and last traded at $22.59, with a volume of 20082539 shares traded. The stock had previously closed at $28.12.

NCNO has been the subject of several other research reports. UBS Group set a $40.00 target price on nCino in a research note on Friday, March 28th. Barclays reduced their price objective on shares of nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday. Macquarie increased their target price on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Stephens reissued an “equal weight” rating and issued a $38.00 price target on shares of nCino in a research report on Wednesday. Finally, The Goldman Sachs Group downgraded shares of nCino from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $42.00 to $24.00 in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, nCino presently has a consensus rating of “Hold” and an average price target of $30.33.

Insiders Place Their Bets

In other nCino news, Director Jeff Horing sold 54,876 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.00, for a total value of $1,920,660.00. Following the sale, the director now owns 4,458,591 shares of the company’s stock, valued at approximately $156,050,685. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gregory Orenstein sold 5,148 shares of nCino stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $167,824.80. Following the transaction, the chief financial officer now directly owns 271,744 shares of the company’s stock, valued at $8,858,854.40. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,864 shares of company stock worth $4,215,221. Company insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Several large investors have recently modified their holdings of NCNO. Fifth Third Bancorp acquired a new position in shares of nCino during the 4th quarter worth approximately $34,000. Hilltop National Bank purchased a new position in nCino during the fourth quarter worth $37,000. Johnson Financial Group Inc. acquired a new position in shares of nCino in the fourth quarter worth $57,000. Asset Management One Co. Ltd. lifted its position in shares of nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after acquiring an additional 323 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of nCino by 32.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock valued at $152,000 after acquiring an additional 1,122 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

nCino Trading Down 1.2 %

The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -126.17, a price-to-earnings-growth ratio of 5.77 and a beta of 0.69. The business has a 50 day moving average of $30.58 and a 200 day moving average of $33.97. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

nCino (NASDAQ:NCNO) last released its quarterly 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). The firm had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. nCino had a positive return on equity of 1.62% and a negative net margin of 3.46%. nCino’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 earnings per share. On average, research analysts forecast that nCino, Inc. will post 0.12 earnings per share for the current fiscal year.

nCino announced that its board has approved a stock buyback program on Tuesday, April 1st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.