nCino, Inc. (NASDAQ:NCNO) Receives $42.50 Consensus Target Price from Analysts

nCino, Inc. (NASDAQ:NCNO) has been given an average rating of “Moderate Buy” by the sixteen brokerages that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $42.50.

Several brokerages have recently issued reports on NCNO. Needham & Company LLC raised their price objective on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Piper Sandler restated a “neutral” rating and issued a $38.00 price objective on shares of nCino in a research report on Thursday, December 5th. Barclays upgraded nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a research report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price objective on nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, UBS Group started coverage on nCino in a research report on Monday, December 16th. They issued a “buy” rating and a $44.00 price objective for the company.

nCino Price Performance

Shares of NCNO stock opened at $28.34 on Wednesday. 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 company has a market cap of $3.28 billion, a P/E ratio of -166.70, a PEG ratio of 5.77 and a beta of 0.66. The stock’s 50-day moving average is $32.29 and its 200 day moving average is $34.28. nCino has a 1-year low of $27.29 and a 1-year high of $43.20.

Insiders Place Their Bets

In other nCino news, CEO Sean Desmond sold 5,034 shares of the company’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 $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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider April Rieger sold 4,325 shares of the company’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 sale, the insider now owns 145,953 shares in the company, valued at approximately $4,758,067.80. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,561,035 shares of company stock worth $162,915,041 in the last quarter. 28.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NCNO. Asset Management One Co. Ltd. boosted its position in shares of nCino by 21.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of nCino by 15.0% in the 3rd quarter. Victory Capital Management Inc. now owns 11,784 shares of the company’s stock valued at $372,000 after purchasing an additional 1,536 shares during the period. Natixis Advisors LLC boosted 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 valued at $465,000 after purchasing an additional 822 shares during the period. Thrivent Financial for Lutherans acquired a new stake in shares of nCino in the 3rd quarter valued at about $689,000. Finally, Quest Partners LLC boosted its position in shares of nCino by 30.4% in the 3rd quarter. Quest Partners LLC now owns 25,231 shares of the company’s stock valued at $797,000 after purchasing an additional 5,879 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

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.