Brown Capital Management LLC recently announced the acquisition of new stake in nCino Inc. (NASDAQ:NCNO). The institutional investor has increased its shareholding in the Technology company by 18.48% to 3.92 million shares with purchase of 0.61 million shares. This fresh investment now brings its stake to 3.53% valued currently at $106.77 million. In addition, BlackRock Fund Advisors raised its holdings by 0.74 million to 2.9 million shares. And JPMorgan Investment Management, I has lifted its position by 32.69% or 0.53 million shares – to 2.15 million shares.
With over 2.64 million nCino Inc. (NCNO) shares trading Friday and a closing price of $23.11 on the day, the dollar volume was approximately $61.0 million. The shares have shown a negative half year performance of -32.21% and its price on 03/10/23 lost nearly -6.36%. Currently, there are 110.90M common shares owned by the public and among those 109.17M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for NCNO have a consensus price objective of $35.46. The analysts have set the share’s price value over the next 12 months at a high of $45.00 and a low of $30.00. The average price target is 36.11% above its recent price level and an upside to the estimated low will see the stock gain 22.97% over that period. But an upside of 48.64% will see the stock hit the forecast high price target while median target price for the stock is $35.00.
Insiders at the company have transacted a total of 67 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 212,404 shares. Insider sales of the common stock occurred on 56 occasions, with total insider shares sold totaling 395,843 shares.
The top 3 mutual fund holders in nCino Inc. are Virtus KAR Small Cap Growth Fund, Brown Capital Management – Small, and Vanguard Total Stock Market Index. Virtus KAR Small Cap Growth Fund owns 2.89 million shares of the company’s stock, all valued at over $78.73 million. The company sold -0.29 million shares recently to bring their total holdings to about 2.60% of the shares outstanding. Brown Capital Management – Small bought 0.55 million shares to see its total holdings expand to 2.43 million shares valued at over $66.31 million and representing 2.19% of the shares outstanding. Vanguard Total Stock Market Index bought 4136.0 shares to bring its total holdings to over 2.22 million shares at a value of $60.49 million. Vanguard Total Stock Market Index now owns shares totaling to 2.00% of the shares outstanding.
Shares of nCino Inc. (NASDAQ: NCNO) opened at $24.57, down -$0.11 from a prior closing price of $24.68. However, the script later moved the day high at 24.57, down -6.36%. The company’s stock has a 5-day price change of -15.32% and -5.56% over the past three months. NCNO shares are trading -12.59% year to date (YTD), with the 12-month market performance down to -52.16% lower. It has a 12-month low price of $22.97 and touched a high of $55.40 over the same period. NCNO has an average intraday trading volume of 552.18K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -16.61%, -15.87%, and -24.20% respectively.
Institutional ownership of nCino Inc. (NASDAQ: NCNO) shares accounts for 61.80% of the company’s 110.90M shares outstanding. Mutual fund holders own 25.60%, while other institutional holders and individual stakeholders account for 39.16% and 25.45% respectively.
It has a market capitalization of $2.74B. The earnings-per-share (ttm) stands at -$0.81. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.84% over the week and 4.41% over the month.
Analysts forecast that nCino Inc. (NCNO) will achieve an EPS of -$0.05 for the current quarter, $0.05 for the next quarter and $0.35 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was -$0.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -10.60%, and 318.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate nCino Inc. (NCNO) as a “Strong Buy” at a consensus score of 1.90. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 5 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NCNO, a number of firms have released research notes about the stock. Robert W. Baird stated their Outperform rating for the stock in a research note on December 14, 2022, with the firm’s price target at $35. Macquarie coverage for the nCino Inc. (NCNO) stock in a research note released on November 02, 2022 offered a Outperform rating with a price target of $42. Scotiabank was of a view on October 31, 2022 that the stock is Sector Outperform, while MoffettNathanson gave the stock Market Perform rating on September 22, 2022, issuing a price target of $40. Morgan Stanley on their part issued Equal-Weight rating on April 13, 2022.
