nCino, Inc. (NASDAQ:NCNO) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of nCino, Inc. (NASDAQ:NCNO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $40.83.

Several equities research analysts recently issued reports on the company. Raymond James upgraded nCino from a "market perform" rating to an "outperform" rating and set a $38.00 price objective on the stock in a report on Tuesday, September 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $38.00 target price on shares of nCino in a research report on Wednesday, August 28th. William Blair reiterated an "outperform" rating on shares of nCino in a research note on Wednesday, August 28th. Keefe, Bruyette & Woods increased their price target on shares of nCino from $41.00 to $49.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Morgan Stanley increased their price target on shares of nCino from $30.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Monday.

Insider Activity at nCino

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the business's stock in a transaction dated Monday, October 14th. The stock was 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 directly owns 276,892 shares of the company's stock, valued at approximately $9,705,064.60. The trade was a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeff Horing sold 1,833,975 shares of the company'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 of the company's stock, valued at $458,243,161.54. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,235,029 shares of company stock valued at $117,599,204. Insiders own 28.40% of the company's stock.

Institutional Investors Weigh In On nCino

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Simplicity Wealth LLC bought a new stake in shares of nCino during the 2nd quarter valued at $3,530,000. Select Equity Group L.P. boosted its position in nCino by 182.0% during the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company's stock worth $800,000 after buying an additional 16,416 shares during the period. Vanderbilt University raised its position in nCino by 192.3% during the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company's stock worth $4,441,000 after purchasing an additional 92,481 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of nCino in the third quarter worth approximately $745,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of nCino by 63.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,599 shares of the company's stock worth $5,452,000 after acquiring an additional 66,869 shares in the last quarter. Institutional investors own 94.76% of the company's stock.

nCino Stock Performance

nCino stock traded down $0.44 during trading hours on Monday, hitting $41.55. 1,396,828 shares of the stock traded hands, compared to its average volume of 1,063,047. nCino has a 1 year low of $28.00 and a 1 year high of $43.20. The firm's 50 day moving average price is $36.90 and its 200-day moving average price is $33.38. 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 stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of -156.93, a P/E/G ratio of 34.82 and a beta of 0.55.

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.