nCino’s (NCNO) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of nCino (NASDAQ:NCNO) in a research note released on Thursday morning, MarketBeat reports. Piper Sandler currently has a $38.00 target price on the stock.

Other equities analysts also recently issued reports about the stock. Stephens lifted their target price on shares of nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. JMP Securities reaffirmed a “market outperform” rating and set a $43.00 target price on shares of nCino in a research note on Wednesday, August 28th. Truist Financial reaffirmed a “buy” rating and set a $44.00 target price (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, nCino presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.38.

nCino Price Performance

Shares of NCNO stock opened at $37.41 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s 50-day moving average is $37.84 and its two-hundred day moving average is $33.65. nCino has a 12 month low of $28.09 and a 12 month high of $43.20. The company has a market capitalization of $4.32 billion, a PE ratio of -220.05, a price-to-earnings-growth ratio of 35.24 and a beta of 0.59.

Insider Activity at nCino

In other nCino news, Director Jeff Horing sold 1,833,975 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the completion of the transaction, the director now owns 12,513,467 shares in the company, valued at $458,243,161.54. The trade was a 12.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $35.05, for a total transaction of $136,169.25. Following the transaction, the chief financial officer now owns 276,892 shares of the company’s stock, valued at $9,705,064.60. This trade represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,235,029 shares of company stock worth $117,599,204. Corporate insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NCNO. Vanderbilt University acquired a new position in nCino during the 2nd quarter worth approximately $1,512,000. Portside Wealth Group LLC grew its holdings in nCino by 23.4% during the 2nd quarter. Portside Wealth Group LLC now owns 39,786 shares of the company’s stock worth $1,251,000 after acquiring an additional 7,536 shares in the last quarter. Raymond James & Associates grew its holdings in nCino by 6.0% during the 2nd quarter. Raymond James & Associates now owns 403,429 shares of the company’s stock worth $12,688,000 after acquiring an additional 22,729 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in nCino during the 2nd quarter worth approximately $236,000. Finally, Nicholas Company Inc. grew its holdings in nCino by 13.2% during the 2nd quarter. Nicholas Company Inc. now owns 133,368 shares of the company’s stock worth $4,194,000 after acquiring an additional 15,500 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.