nCino Inc. (NASDAQ:NCNO) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• nCino has a “Moderate Buy” consensus from 18 analysts, with 11 buy ratings, one strong buy, five holds and one sell. The average 12-month price target is $24.38, above the reported share price of $19.09.
• Recent analyst actions were generally positive: Morgan Stanley and Barclays raised their price targets and maintained overweight ratings, while Truist kept a hold rating after increasing its target to $20.
• Institutional ownership is substantial at 94.76%, with major investors including BlackRock, Bank of America and American Capital Management establishing new positions. Insiders sold $1.79 million worth of shares over the past three months, primarily to cover tax obligations tied to equity awards.

Shares of nCino Inc. (NASDAQ:NCNO - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eighteen research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $24.38.

A number of research analysts recently issued reports on NCNO shares. Weiss Ratings restated a "sell (d+)" rating on shares of nCino in a research report on Tuesday, August 25th. Truist Financial increased their target price on nCino from $19.00 to $20.00 and gave the stock a "hold" rating in a research report on Wednesday, August 26th. Morgan Stanley raised their target price on nCino from $23.00 to $25.00 and gave the company an "overweight" rating in a research note on Wednesday, August 26th. Barclays boosted their price target on shares of nCino from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Wednesday, August 26th. Finally, Zacks Research lowered shares of nCino from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th.

Insider Activity

In other nCino news, Director Pierre Naude sold 4,677 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $89,891.94. Following the completion of the transaction, the director owned 1,116,707 shares in the company, valued at approximately $21,463,108.54. This represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeanette Sellers sold 1,536 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total transaction of $29,998.08. Following the completion of the sale, the senior vice president owned 48,453 shares in the company, valued at $946,287.09. The trade was a 3.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 90,138 shares of company stock worth $1,787,353 over the last three months. Insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in nCino in the second quarter worth about $147,492,000. Bank of America Corp DE acquired a new position in nCino during the 2nd quarter valued at about $84,319,000. American Capital Management Inc. acquired a new position in nCino during the 2nd quarter valued at about $83,508,000. HMI Capital Management L.P. acquired a new stake in shares of nCino in the 2nd quarter worth approximately $81,598,000. Finally, Hawk Ridge Capital Management LP lifted its stake in shares of nCino by 625.4% in the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company's stock worth $67,138,000 after acquiring an additional 3,864,010 shares during the period. Institutional investors and hedge funds own 94.76% of the company's stock.

nCino Stock Performance

Shares of NCNO stock opened at $19.09 on Thursday. The company has a market cap of $2.02 billion, a P/E ratio of 63.63 and a beta of 0.81. The business has a 50 day moving average of $20.49 and a two-hundred day moving average of $17.89. nCino has a 52 week low of $13.80 and a 52 week high of $27.50. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34.

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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