nCino, Inc. (NASDAQ:NCNO) Receives $42.50 Average Target Price from Analysts

nCino, Inc. (NASDAQ:NCNO) has received an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $42.50.

Several equities analysts have commented on the stock. William Blair reissued an “outperform” rating on shares of nCino in a research report on Thursday, December 5th. Stephens raised their price target on shares of nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Robert W. Baird decreased their price target on shares of nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Morgan Stanley decreased their price target on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. Finally, Needham & Company LLC raised their price target on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 5th.

nCino Stock Down 0.4 %

Shares of NASDAQ NCNO opened at $34.25 on Friday. The company has a 50 day simple moving average of $33.96 and a 200-day simple moving average of $34.60. The company has a market capitalization of $3.97 billion, a P/E ratio of -201.46, a P/E/G ratio of 5.70 and a beta of 0.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino has a 1 year low of $28.09 and a 1 year high of $43.20.

Insider Buying and Selling

In related news, insider April Rieger sold 4,325 shares of nCino stock in a transaction 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 directly owns 145,953 shares in the company, valued at $4,758,067.80. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $167,824.80. Following the sale, the chief financial officer now owns 271,744 shares in the company, valued at $8,858,854.40. This represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,270,085 shares of company stock worth $225,838,863 in the last ninety days. 28.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Asset Management One Co. Ltd. increased its stake in 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 purchasing an additional 323 shares during the period. Victory Capital Management Inc. increased its stake in nCino by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock valued at $407,000 after purchasing an additional 340 shares during the period. Malaga Cove Capital LLC increased its stake in nCino by 3.0% in the third quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock valued at $430,000 after purchasing an additional 400 shares during the period. Berry Wealth Group LP increased its stake in nCino by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock valued at $276,000 after purchasing an additional 400 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in nCino by 2.2% in the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock valued at $772,000 after purchasing an additional 500 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.