nCino, Inc. (NASDAQ:NCNO) Receives $39.25 Consensus Target Price from Analysts

nCino, Inc. (NASDAQ:NCNO) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $41.23.

Several equities analysts have recently issued reports on NCNO shares. Keefe, Bruyette & Woods lifted their price objective on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday. Piper Sandler restated an “overweight” rating and issued a $38.00 price target on shares of nCino in a research report on Wednesday, August 28th. Stephens reiterated an “equal weight” rating and set a $35.00 price objective on shares of nCino in a research report on Wednesday, August 28th. Truist Financial reiterated a “buy” rating and set a $44.00 price objective (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Finally, The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th.

Insiders Place Their Bets

In other nCino news, Director William J. Ruh sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $37.50, for a total value 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. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the completion of the sale, the director now directly owns 12,513,467 shares of the company’s stock, valued at $458,243,161.54. This represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,235,029 shares of company stock worth $117,599,204 in the last quarter. 28.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On nCino

A number of institutional investors have recently modified their holdings of NCNO. Crewe Advisors LLC bought a new stake in shares of nCino in the second quarter valued at approximately $26,000. Asset Management One Co. Ltd. lifted its holdings in shares of nCino by 21.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of nCino by 97.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after acquiring an additional 1,358 shares in the last quarter. West Tower Group LLC bought a new stake in nCino in the third quarter valued at about $126,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in nCino in the third quarter valued at $152,000. Institutional investors own 94.76% of the company’s stock.

nCino Price Performance

NASDAQ:NCNO opened at $42.50 on Monday. nCino has a 52-week low of $28.09 and a 52-week high of $43.20. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The firm has a market cap of $4.91 billion, a P/E ratio of -157.29, a PEG ratio of 34.46 and a beta of 0.59. The business’s 50-day moving average price is $37.34 and its 200 day moving average price is $33.51.

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.