nCino’s (NCNO) Equal Weight Rating Reiterated at Stephens

Stephens restated their equal weight rating on shares of nCino (NASDAQ:NCNO) in a report published on Thursday,Benzinga reports. They currently have a $38.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. Robert W. Baird cut their price target on shares of nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Scotiabank boosted their target price on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Barclays upgraded shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a report on Monday, January 6th. Morgan Stanley dropped their target price on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Finally, Piper Sandler restated a “neutral” rating and issued a $38.00 target price on shares of nCino in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, nCino presently has an average rating of “Moderate Buy” and an average price target of $42.50.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $28.50 on Thursday. The firm has a market cap of $3.30 billion, a PE ratio of -167.64, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. The firm’s fifty day moving average is $31.81 and its 200-day moving average is $34.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino has a 52 week low of $27.29 and a 52 week high of $43.20.

Insider Buying and Selling at nCino

In other news, CEO Sean Desmond sold 5,034 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the completion of the sale, the chief executive officer now directly owns 306,477 shares of the company’s stock, valued at $9,991,150.20. The trade was a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gregory Orenstein sold 5,148 shares of the business’s stock in a transaction dated 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 directly owns 271,744 shares of the company’s stock, valued at approximately $8,858,854.40. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,877 shares of company stock valued at $2,963,893. Corporate insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Several hedge funds and other institutional investors have recently made changes to their positions in NCNO. Wasatch Advisors LP increased its position in shares of nCino by 171.9% during the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock worth $207,450,000 after acquiring an additional 3,905,802 shares in the last quarter. Invesco Ltd. grew its position in nCino by 3,006.0% in the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company’s stock worth $87,392,000 after purchasing an additional 2,518,707 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in nCino in the 4th quarter worth about $81,254,000. Conestoga Capital Advisors LLC bought a new stake in nCino in the 4th quarter worth about $70,256,000. Finally, T. Rowe Price Investment Management Inc. grew its position in nCino by 139.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company’s stock worth $108,834,000 after purchasing an additional 1,889,283 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

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.