nCino, Inc. (NASDAQ:NCNO) Receives Average Rating of “Moderate Buy” from Brokerages

nCino, Inc. (NASDAQ:NCNO) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $42.50.

A number of equities research analysts have recently weighed in on the company. UBS Group initiated coverage on nCino in a research note on Monday, December 16th. They set a “buy” rating and a $44.00 price target on the stock. Needham & Company LLC raised their price target on shares of nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Raymond James upgraded shares of nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research note on Tuesday, September 3rd. Robert W. Baird cut their target price on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Finally, Scotiabank lifted their price target on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th.

nCino Stock Up 0.5 %

nCino stock opened at $35.44 on Friday. nCino has a 1-year low of $28.09 and a 1-year high of $43.20. The business has a fifty day moving average price of $38.62 and a 200-day moving average price of $34.14. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -208.46, a PEG ratio of 16.39 and a beta of 0.59.

Insider Activity at nCino

In other news, Director Jeff Horing sold 1,356,721 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $36.02, for a total transaction of $48,869,090.42. Following the sale, the director now directly owns 14,656,746 shares in the company, valued at $527,935,990.92. This trade represents a 8.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the transaction, the chief financial officer now owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. This represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,418,237 shares of company stock worth $340,474,175. 28.40% of the stock is owned by corporate insiders.

Institutional Trading of nCino

Institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. lifted its position in shares of nCino by 46.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after buying an additional 344,269 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in nCino during the third quarter worth $689,000. Verition Fund Management LLC purchased a new position in nCino during the third quarter valued at $594,000. Charles Schwab Investment Management Inc. grew its position in shares of nCino by 51.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock valued at $17,588,000 after purchasing an additional 189,283 shares during the period. Finally, Select Equity Group L.P. increased its stake in shares of nCino by 182.0% during the second quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock worth $800,000 after purchasing an additional 16,416 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

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.