nCino (NASDAQ:NCNO) Given New $40.00 Price Target at Keefe, Bruyette & Woods

nCino (NASDAQ:NCNO) had its price target dropped by analysts at Keefe, Bruyette & Woods from $44.00 to $40.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 38.31% from the stock’s previous close.

Several other research analysts also recently commented on NCNO. Scotiabank cut their price target on shares of nCino from $42.00 to $35.00 and set a “sector outperform” rating for the company in a report on Thursday. Piper Sandler reissued a “neutral” rating and set a $38.00 price objective on shares of nCino in a research note on Thursday, December 5th. Morgan Stanley reduced their target price on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. Macquarie lifted their price target on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, William Blair restated an “outperform” rating on shares of nCino in a research report on Thursday, December 5th. Five investment 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $41.36.

nCino Trading Down 1.9 %

Shares of nCino stock opened at $28.92 on Friday. The company’s 50-day moving average price is $31.44 and its 200-day moving average price is $34.18. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino has a 12-month low of $27.29 and a 12-month high of $43.20. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -170.11, a PEG ratio of 5.77 and a beta of 0.66.

Insider Buying and Selling

In other news, Director Jeff Horing sold 54,876 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the transaction, the director now directly owns 4,458,591 shares of the company’s stock, valued at approximately $156,050,685. This represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider April Rieger sold 4,325 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $140,995.00. Following the completion of the sale, the insider now directly owns 145,953 shares in the company, valued at $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,877 shares of company stock worth $2,963,893 in the last ninety days. 28.40% of the stock is owned by insiders.

Institutional Investors Weigh In On nCino

Institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in shares of nCino by 15.0% during the third quarter. Victory Capital Management Inc. now owns 11,784 shares of the company’s stock valued at $372,000 after acquiring an additional 1,536 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of nCino by 5.9% in the 3rd quarter. Natixis Advisors LLC now owns 14,711 shares of the company’s stock worth $465,000 after purchasing an additional 822 shares during the period. Thrivent Financial for Lutherans purchased a new position in shares of nCino during the third quarter valued at about $689,000. Charles Schwab Investment Management Inc. raised its stake in nCino by 51.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock worth $17,588,000 after buying an additional 189,283 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in nCino by 16.7% in the third quarter. The Manufacturers Life Insurance Company now owns 23,884 shares of the company’s stock worth $754,000 after buying an additional 3,417 shares during the period. Hedge funds and other institutional investors 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.