Raymond James Has Lowered Expectations for nCino (NASDAQ:NCNO) Stock Price

nCino (NASDAQ:NCNO) had its price objective dropped by stock analysts at Raymond James from $44.00 to $42.00 in a note issued to investors on Tuesday, Marketbeat reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price target points to a potential upside of 41.27% from the stock’s previous close.

Several other equities research analysts also recently issued reports on NCNO. UBS Group began coverage on nCino in a report on Monday, December 16th. They set a “buy” rating and a $44.00 price target for the company. Scotiabank raised their target price on shares of nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley decreased their price target on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. Robert W. Baird reduced their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Finally, Piper Sandler reiterated a “neutral” rating and set a $38.00 target price on shares of nCino in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.79.

nCino Price Performance

NASDAQ:NCNO opened at $29.73 on Tuesday. nCino has a 12-month low of $27.29 and a 12-month high of $43.20. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -174.87, a P/E/G ratio of 5.77 and a beta of 0.66. The stock’s 50 day moving average price is $31.59 and its two-hundred day moving average price is $34.19. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

Insiders Place Their Bets

In other news, CFO Gregory Orenstein sold 5,148 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $167,824.80. Following the completion of the transaction, the chief financial officer now directly owns 271,744 shares in the company, valued at approximately $8,858,854.40. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sean Desmond sold 5,034 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $164,108.40. Following the sale, the chief executive officer now owns 306,477 shares in the company, valued at $9,991,150.20. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,877 shares of company stock worth $2,963,893 over the last three months. Insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its position in nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after acquiring an additional 323 shares during the period. Victory Capital Management Inc. lifted its holdings in nCino by 2.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock worth $407,000 after buying an additional 340 shares during the period. Berry Wealth Group LP grew its position in shares of nCino by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock valued at $276,000 after buying an additional 400 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of nCino by 2.2% during the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock worth $772,000 after acquiring an additional 500 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of nCino by 1.2% in the fourth quarter. Sterling Capital Management LLC now owns 48,945 shares of the company’s stock worth $1,644,000 after acquiring an additional 583 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.