Morgan Stanley Issues Positive Forecast for nCino (NASDAQ:NCNO) Stock Price

nCino (NASDAQ:NCNO) had its price objective increased by research analysts at Morgan Stanley from $30.00 to $41.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 1.20% from the company’s current price.

NCNO has been the subject of a number of other research reports. William Blair reiterated an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Raymond James raised shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Tuesday, September 3rd. Stephens reaffirmed an “equal weight” rating and issued a $35.00 target price on shares of nCino in a report on Wednesday, August 28th. Macquarie reaffirmed an “outperform” rating and issued a $40.00 target price on shares of nCino in a report on Wednesday, October 23rd. Finally, Barclays boosted their price objective on shares of nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.83.

nCino Price Performance

Shares of NCNO opened at $41.50 on Monday. nCino has a 1-year low of $28.00 and a 1-year high of $43.20. The firm has a 50-day simple moving average of $37.12 and a two-hundred day simple moving average of $33.44. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09.

Insider Activity at nCino

In other news, Director William J. Ruh sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the completion of the sale, the director now directly owns 226,201 shares of the company’s stock, valued at $8,482,537.50. This trade represents a 4.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff Horing sold 1,833,975 shares of the firm’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 completion of the transaction, the director now directly owns 12,513,467 shares in the company, valued at $458,243,161.54. The trade was a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,235,029 shares of company stock worth $117,599,204 in the last quarter. 28.40% of the stock is owned by company insiders.

Institutional Trading of nCino

Hedge funds have recently modified their holdings of the company. Crewe Advisors LLC bought a new position in nCino in the second quarter valued at approximately $26,000. Asset Management One Co. Ltd. increased its stake in nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after buying an additional 341 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after buying an additional 1,358 shares during the last quarter. West Tower Group LLC bought a new position in shares of nCino in the 3rd quarter valued at about $126,000. Finally, Northwest & Ethical Investments L.P. bought a new position in shares of nCino in the 3rd quarter valued at about $152,000. 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.