nCino (NASDAQ:NCNO) Price Target Cut to $42.00 by Analysts at Raymond James

nCino (NASDAQ:NCNO - Get Free Report) had its target price dropped by Raymond James from $44.00 to $42.00 in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has an "outperform" rating on the stock. Raymond James' price target would indicate a potential upside of 45.23% from the stock's current price.

A number of other research firms have also recently weighed in on NCNO. Barclays raised nCino from an "equal weight" rating to an "overweight" rating and set a $44.00 price target for the company in a report on Monday, January 6th. UBS Group assumed coverage on nCino in a research note on Monday, December 16th. They issued a "buy" rating and a $44.00 target price for the company. Morgan Stanley cut their price target on nCino from $41.00 to $39.00 and set an "equal weight" rating for the company in a report on Friday, December 6th. Macquarie increased their price objective on shares of nCino from $40.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Finally, Needham & Company LLC boosted their target price on shares of nCino from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, nCino has a consensus rating of "Moderate Buy" and a consensus price target of $41.36.

nCino Price Performance

nCino stock traded down $0.57 during trading hours on Tuesday, hitting $28.92. 1,242,216 shares of the stock were exchanged, compared to its average volume of 1,204,851. The stock has a market capitalization of $3.35 billion, a P/E ratio of -170.11, a P/E/G ratio of 5.77 and a beta of 0.66. The business's 50-day moving average is $31.44 and its two-hundred day moving average is $34.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino has a 12 month low of $27.29 and a 12 month high of $43.20.

Remove Ads

Insider Activity

In related news, 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 completion of the sale, the insider now owns 145,953 shares in the company, valued at approximately $4,758,067.80. This represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeff Horing sold 54,876 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 4,458,591 shares in the company, valued at $156,050,685. The trade was a 1.22 % 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 valued at $2,963,893 in the last 90 days. 28.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP raised its holdings in nCino by 171.9% in the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company's stock worth $207,450,000 after purchasing an additional 3,905,802 shares during the period. Invesco Ltd. raised its stake in nCino by 3,006.0% during the 4th quarter. Invesco Ltd. now owns 2,602,497 shares of the company's stock worth $87,392,000 after buying an additional 2,518,707 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in nCino during the 4th quarter worth $81,254,000. Conestoga Capital Advisors LLC bought a new position in nCino during the fourth quarter worth about $70,256,000. Finally, T. Rowe Price Investment Management Inc. grew its stake in nCino by 139.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company's stock valued at $108,834,000 after acquiring an additional 1,889,283 shares during the period. Institutional investors and hedge funds 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.