nCino Inc. (NASDAQ:NCNO) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• nCino has a “Moderate Buy” consensus rating from 18 analysts: 11 rate it a buy, one a strong buy, five hold, and one sell. The average 12-month price target is $24.38, above the reported $21.25 opening price.
• Recent analysts generally raised their price targets, including Morgan Stanley to $25, Barclays to $23, Truist Financial to $20, and JPMorgan to $17; UBS also reaffirmed its buy rating.
• nCino has a $2.25 billion market capitalization, while institutional investors own 94.76% of shares. Insiders sold 84,040 shares worth approximately $1.64 million during the last quarter, primarily to cover tax obligations tied to equity awards.

nCino Inc. (NASDAQ:NCNO - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eighteen research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $24.3846.

A number of brokerages have recently issued reports on NCNO. JPMorgan Chase & Co. lifted their target price on nCino from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Monday, June 22nd. Barclays increased their price target on nCino from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Wednesday, August 26th. Morgan Stanley raised their price objective on nCino from $23.00 to $25.00 and gave the company an "overweight" rating in a research note on Wednesday, August 26th. Truist Financial lifted their price objective on nCino from $19.00 to $20.00 and gave the stock a "hold" rating in a report on Wednesday, August 26th. Finally, UBS Group reaffirmed a "buy" rating on shares of nCino in a research report on Wednesday, August 26th.

nCino Stock Performance

Shares of NCNO stock opened at $21.25 on Friday. nCino has a 12 month low of $13.80 and a 12 month high of $31.23. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $2.25 billion, a P/E ratio of 70.83 and a beta of 0.69. The company's fifty day moving average price is $19.67 and its two-hundred day moving average price is $17.37.

Insiders Place Their Bets

In related news, SVP Jeanette Sellers sold 1,536 shares of nCino stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total value of $29,998.08. Following the completion of the sale, the senior vice president owned 48,453 shares in the company, valued at approximately $946,287.09. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 4,677 shares of the company's stock in a transaction on 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 sale, the director directly owned 1,116,707 shares in the company, valued at $21,463,108.54. This represents a 0.42% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 84,040 shares of company stock valued at $1,643,481. 1.90% of the stock is owned by insiders.

Institutional Trading of nCino

Several institutional investors and hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. acquired a new position in shares of nCino in the 1st quarter worth approximately $32,000. IFP Advisors Inc raised its position in shares of nCino by 7,370.4% during the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company's stock valued at $33,000 after acquiring an additional 1,990 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of nCino during the 4th quarter valued at approximately $38,000. Versant Capital Management Inc lifted its stake in nCino by 664.9% during the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company's stock worth $40,000 after purchasing an additional 2,101 shares during the last quarter. Finally, Quarry LP lifted its stake in nCino by 138.2% during the third quarter. Quarry LP now owns 1,701 shares of the company's stock worth $46,000 after purchasing an additional 987 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

nCino Company Profile

nCino, Inc NASDAQ: NCNO provides cloud-based software designed to help banks, credit unions and other financial institutions manage and modernize their operations. Its platform, known as the nCino Bank Operating System, is built to streamline processes, improve collaboration and provide a unified view of customer and financial data.

The company's products support commercial, small-business, consumer and mortgage lending, as well as account opening, deposit origination, onboarding, credit analysis, portfolio management and regulatory compliance.

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