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

nCino, Inc. (NASDAQ:NCNO - Get Free Report) has received an average recommendation of "Moderate Buy" from the fifteen analysts that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $42.50.

A number of equities analysts have commented on the company. Barclays raised their price objective on nCino from $34.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, November 25th. Macquarie raised their price target on nCino from $40.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Piper Sandler reaffirmed a "neutral" rating and set a $38.00 price objective on shares of nCino in a research report on Thursday, December 5th. Raymond James raised shares of nCino from a "market perform" rating to an "outperform" rating and set a $38.00 target price on the stock in a report on Tuesday, September 3rd. Finally, Needham & Company LLC upped 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.

nCino Stock Performance

Shares of NCNO traded down $1.01 during mid-day trading on Friday, hitting $34.43. 761,362 shares of the company's stock were exchanged, compared to its average volume of 1,121,557. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino has a 52 week low of $28.09 and a 52 week high of $43.20. The stock's 50-day simple moving average is $38.58 and its 200-day simple moving average is $34.16. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of -202.52, a price-to-earnings-growth ratio of 16.39 and a beta of 0.59.

Insider Activity

In other nCino news, Director Jeff Horing sold 4,474,158 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $35.75, for a total transaction of $159,951,148.50. Following the sale, the director now directly owns 4,513,467 shares of the company's stock, valued at $161,356,445.25. The trade was a 49.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gregory Orenstein sold 3,885 shares of the company's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction 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 trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,418,237 shares of company stock worth $340,474,175. Insiders own 28.40% of the company's stock.

Institutional Trading of nCino

Several institutional investors have recently modified their holdings of NCNO. Long Path Partners LP lifted its holdings in nCino by 151.1% during the 2nd quarter. Long Path Partners LP now owns 2,590,135 shares of the company's stock worth $81,460,000 after buying an additional 1,558,529 shares during the period. ShawSpring Partners LLC lifted its stake in shares of nCino by 115.9% in the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company's stock worth $83,830,000 after acquiring an additional 1,424,349 shares during the period. Brown Brothers Harriman & Co. bought a new stake in nCino in the second quarter valued at approximately $41,805,000. Senator Investment Group LP acquired a new stake in nCino during the 2nd quarter valued at approximately $40,885,000. Finally, Millennium Management LLC raised its holdings in nCino by 438.3% during the 2nd quarter. Millennium Management LLC now owns 1,452,242 shares of the company's stock worth $45,673,000 after purchasing an additional 1,182,452 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

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.