nCino (NASDAQ:NCNO) Rating Increased to Overweight at Barclays

nCino (NASDAQ:NCNO - Get Free Report) was upgraded by analysts at Barclays from an "equal weight" rating to an "overweight" rating in a research note issued to investors on Monday, MarketBeat.com reports. The firm presently has a $44.00 price objective on the stock. Barclays's target price suggests a potential upside of 28.84% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. UBS Group started coverage on nCino in a report on Monday, December 16th. They issued a "buy" rating and a $44.00 price objective on the stock. Needham & Company LLC lifted their target price on nCino from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Piper Sandler reissued a "neutral" rating and set a $38.00 price target on shares of nCino in a research report on Thursday, December 5th. William Blair restated an "outperform" rating on shares of nCino in a report on Thursday, December 5th. Finally, Morgan Stanley reduced their target price on shares of nCino from $41.00 to $39.00 and set an "equal weight" rating on the stock in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.50.

nCino Trading Up 0.2 %

Shares of NASDAQ:NCNO traded up $0.08 during mid-day trading on Monday, reaching $34.15. 1,453,984 shares of the company were exchanged, compared to its average volume of 961,228. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -200.87, a P/E/G ratio of 16.39 and a beta of 0.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino has a 1 year low of $28.09 and a 1 year high of $43.20. The firm's 50-day simple moving average is $38.19 and its 200 day simple moving average is $34.29.

Insider Transactions at nCino

In related news, insider Sean Desmond sold 30,000 shares of the business's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the completion of the sale, the insider now owns 341,511 shares in the company, valued at $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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 $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 valued at $340,474,175. 28.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nCino

Several hedge funds and other institutional investors have recently bought and sold shares of NCNO. Asset Management One Co. Ltd. grew its holdings in shares of nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company's stock worth $62,000 after purchasing an additional 341 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company's stock valued at $87,000 after purchasing an additional 1,358 shares during the period. West Tower Group LLC purchased a new position in nCino during the 3rd quarter worth approximately $126,000. Northwest & Ethical Investments L.P. acquired a new position in nCino during the third quarter worth approximately $152,000. Finally, Amalgamated Bank lifted its stake in nCino by 28.1% in the second quarter. Amalgamated Bank now owns 5,174 shares of the company's stock valued at $163,000 after buying an additional 1,134 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.