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

nCino, Inc. (NASDAQ:NCNO - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the sixteen analysts that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $42.50.

Several equities analysts have recently commented on the company. Needham & Company LLC upped their price target on nCino from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Robert W. Baird decreased their price target on nCino from $43.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, December 5th. Stephens upped their price target on nCino from $35.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Barclays raised nCino from an "equal weight" rating to an "overweight" rating and set a $44.00 price target on the stock in a research note on Monday, January 6th. Finally, Scotiabank upped their price target on nCino from $36.00 to $46.00 and gave the company a "sector outperform" rating in a research note on Wednesday, December 4th.

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 4,652,411 shares of company stock worth $166,225,394 in the last quarter. 28.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On nCino

Large investors have recently bought and sold shares of the stock. Franklin Resources Inc. increased its holdings in shares of nCino by 46.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company's stock valued at $38,327,000 after acquiring an additional 344,269 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of nCino in the 3rd quarter valued at about $689,000. Verition Fund Management LLC purchased a new position in shares of nCino in the 3rd quarter valued at about $594,000. Charles Schwab Investment Management Inc. increased its holdings in shares of nCino by 51.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company's stock valued at $17,588,000 after acquiring an additional 189,283 shares during the last quarter. Finally, Commerce Bank purchased a new position in shares of nCino in the 3rd quarter valued at about $575,000. Hedge funds and other institutional investors own 94.76% of the company's stock.

nCino Stock Down 1.9 %

Shares of NASDAQ:NCNO opened at $28.45 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $32.62 and a two-hundred day moving average of $34.38. The stock has a market cap of $3.29 billion, a P/E ratio of -167.34, a PEG ratio of 5.77 and a beta of 0.66. nCino has a 52-week low of $28.13 and a 52-week high of $43.20.

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.

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