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

nCino (NASDAQ:NCNO) had its target price cut by equities researchers at Scotiabank from $42.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 18.13% from the stock’s current price.

A number of other equities research analysts also recently weighed in on NCNO. Morgan Stanley lowered their price objective on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. UBS Group initiated coverage on nCino in a research report on Monday, December 16th. They set a “buy” rating and a $44.00 price objective for the company. Macquarie raised their target price on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Needham & Company LLC upped their price target on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, KeyCorp reissued a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.00.

nCino Stock Performance

NCNO stock traded down $0.10 during trading on Thursday, hitting $29.63. 99,879 shares of the company’s stock traded hands, compared to its average volume of 1,145,408. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of -174.40, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. nCino has a 52 week low of $27.29 and a 52 week high of $43.20. The stock has a fifty day moving average price of $31.59 and a two-hundred day moving average price of $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.

Insider Buying and Selling at nCino

In related news, Director Jeff Horing sold 54,876 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.00, for a total value of $1,920,660.00. Following the transaction, the director now directly owns 4,458,591 shares in the company, valued at approximately $156,050,685. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gregory Orenstein sold 5,148 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 transaction of $167,824.80. Following the transaction, the chief financial officer now directly owns 271,744 shares of the company’s stock, valued at approximately $8,858,854.40. This represents a 1.86 % decrease in their position. 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 over the last 90 days. Insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. grew its stake in shares of nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after acquiring an additional 323 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of 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 purchasing an additional 340 shares during the period. Berry Wealth Group LP raised its position in shares of nCino by 5.1% during the fourth 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 lifted its stake in shares of nCino by 2.2% in the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock valued at $772,000 after buying an additional 500 shares during the period. Finally, Sterling Capital Management LLC grew its position in nCino by 1.2% during the fourth quarter. Sterling Capital Management LLC now owns 48,945 shares of the company’s stock worth $1,644,000 after buying an additional 583 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

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.