nCino (NASDAQ:NCNO) Sets New 12-Month Low Following Analyst Downgrade

nCino, Inc. (NASDAQ:NCNO)’s share price reached a new 52-week low during 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 changing hands. The stock had previously closed at $28.12.

Other research analysts also recently issued research reports about the stock. Barclays dropped their price objective on shares of nCino from $44.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday. Stephens reaffirmed an “equal weight” rating and set a $38.00 price target on shares of nCino in a research report on Wednesday. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. UBS Group set a $40.00 price objective on shares of nCino in a research note on Friday, March 28th. Finally, Piper Sandler cut their target price on nCino from $38.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, nCino presently has an average rating of “Hold” and a consensus target price of $30.33.

Insider Transactions at nCino

In other news, insider April Rieger sold 4,325 shares of nCino stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the sale, the insider now owns 145,953 shares in the company, valued at $4,758,067.80. This trade represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeff Horing sold 54,876 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the transaction, the director now directly owns 4,458,591 shares in the company, valued at approximately $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,864 shares of company stock valued at $4,215,221 over the last quarter. Company insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

A number of institutional investors have recently added to or reduced their stakes in NCNO. Fifth Third Bancorp acquired a new stake in shares of nCino during the fourth quarter valued at about $34,000. Hilltop National Bank purchased a new stake in nCino during the 4th quarter worth approximately $37,000. Johnson Financial Group Inc. acquired a new position in shares of nCino in the 4th quarter valued at approximately $57,000. Asset Management One Co. Ltd. grew its position in shares of nCino by 16.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after buying an additional 323 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in 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. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Price Performance

The company has a market cap of $2.48 billion, a P/E ratio of -126.17, a P/E/G ratio of 5.77 and a beta of 0.69. The company’s 50-day moving average price is $30.58 and its two-hundred day moving average price is $33.97. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

nCino (NASDAQ:NCNO) last posted 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). nCino had a negative net margin of 3.46% and a positive return on equity of 1.62%. The firm had revenue of $141.37 million for the quarter, compared to analyst estimates of $140.81 million. During the same period in the prior year, the company posted $0.21 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that nCino, Inc. will post 0.12 earnings per share for the current year.

nCino declared that its board has initiated a share repurchase plan on Tuesday, April 1st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.