nCino (NASDAQ:NCNO - Free Report) had its price objective decreased by Scotiabank from $42.00 to $35.00 in a report published on Thursday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.
A number of other research firms have also issued reports on NCNO. Macquarie upped their target price on shares of nCino from $40.00 to $43.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Piper Sandler reiterated a "neutral" rating and issued a $38.00 target price on shares of nCino in a research note on Thursday, December 5th. Keefe, Bruyette & Woods increased their price objective on shares of nCino from $41.00 to $49.00 and gave the stock an "outperform" rating in a report on Monday, December 2nd. Barclays raised shares of 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, Raymond James reduced their target price on nCino from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $41.36.
Get Our Latest Stock Report on NCNO
nCino Price Performance
Shares of NASDAQ NCNO traded down $1.12 on Thursday, hitting $27.80. The company's stock had a trading volume of 659,423 shares, compared to its average volume of 1,202,791. 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 12-month low of $27.29 and a 12-month high of $43.20. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -163.55, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. The stock has a 50 day moving average of $31.44 and a 200-day moving average of $34.22.
Insider Buying and Selling at nCino
In other news, insider April Rieger sold 4,325 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were 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 of the company's stock, valued at approximately $4,758,067.80. The trade was a 2.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff Horing sold 54,876 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following 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 sold a total of 86,877 shares of company stock worth $2,963,893 in the last 90 days. 28.40% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On nCino
A number of hedge funds have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its stake in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company's stock valued at $78,000 after acquiring an additional 323 shares during the period. Victory Capital Management Inc. lifted its position in nCino by 2.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,124 shares of the company's stock valued at $407,000 after purchasing an additional 340 shares during the last quarter. Berry Wealth Group LP lifted its position in nCino by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company's stock valued at $276,000 after purchasing an additional 400 shares during the last quarter. Handelsbanken Fonder AB grew its position in nCino by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company's stock worth $772,000 after purchasing an additional 500 shares during the last quarter. Finally, Sterling Capital Management LLC increased its stake in shares of nCino by 1.2% in the fourth quarter. Sterling Capital Management LLC now owns 48,945 shares of the company's stock valued at $1,644,000 after purchasing an additional 583 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.
About nCino
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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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