nCino (NASDAQ:NCNO) Now Covered by Analysts at Stephens

Key Points

• Stephens initiated coverage of nCino with an “overweight” rating and a $26 price target, implying 22.87% upside from the prior close.
• Analyst sentiment is broadly positive: nCino has a consensus “Moderate Buy” rating and an average price target of $24.38, although ratings range from Strong Buy to Sell.
• nCino shares rose 0.2% to $21.16, while institutional investors own 94.76% of the company; insiders sold $2.66 million worth of shares over the past 90 days, primarily to cover tax obligations on vested equity awards.

Equities researchers at Stephens assumed coverage on shares of nCino (NASDAQ:NCNO - Get Free Report) in a report issued on Friday. The firm set an "overweight" rating and a $26.00 price target on the stock. Stephens' price target suggests a potential upside of 22.87% from the stock's previous close.

Several other equities research analysts also recently commented on the company. KeyCorp reissued a "sector weight" rating on shares of nCino in a report on Monday. JPMorgan Chase & Co. upped their price objective on nCino from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Monday, June 22nd. Weiss Ratings reissued a "sell (d+)" rating on shares of nCino in a research report on Tuesday, August 25th. Needham & Company LLC reissued a "buy" rating and set a $25.00 price objective on shares of nCino in a report on Wednesday, August 26th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of nCino in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.38.

nCino Trading Up 0.2%

NCNO stock traded up $0.04 on Friday, reaching $21.16. The company's stock had a trading volume of 64,355 shares, compared to its average volume of 2,807,712. The business has a fifty day simple moving average of $20.61 and a two-hundred day simple moving average of $18.11. nCino has a 12-month low of $13.80 and a 12-month high of $27.50. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $2.24 billion, a PE ratio of 71.63 and a beta of 0.81.

Insider Buying and Selling

In related news, Director Pierre Naude sold 4,677 shares of nCino stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $89,891.94. Following the completion of the transaction, the director directly owned 1,116,707 shares of the company's stock, valued at approximately $21,463,108.54. The trade was a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider April Rieger sold 6,098 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $21.98, for a total value of $134,034.04. Following the transaction, the insider owned 369,651 shares of the company's stock, valued at approximately $8,124,928.98. The trade was a 1.62% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 134,130 shares of company stock valued at $2,662,794 in the last ninety days. Company insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On nCino

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new stake in shares of nCino in the 3rd quarter worth $97,000. Steel Grove Capital Advisors LLC purchased a new stake in nCino during the 3rd quarter worth approximately $204,000. Integrated Wealth Concepts LLC acquired a new position in nCino during the 2nd quarter valued at approximately $344,000. IFP Advisors Inc lifted its holdings in shares of nCino by 7,370.4% during the second quarter. IFP Advisors Inc now owns 2,017 shares of the company's stock worth $33,000 after purchasing an additional 1,990 shares during the period. Finally, Allworth Financial LP boosted its position in nCino by 282.4% in the second quarter. Allworth Financial LP now owns 13,268 shares of the company's stock valued at $217,000 after buying an additional 9,798 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors.

About nCino

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize and manage core banking processes through a unified, configurable operating environment.

The company's products support commercial, small-business and consumer lending; account opening and deposit origination; customer onboarding; loan and relationship management; workflow automation; and portfolio and analytics capabilities.

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