nCino Inc. (NASDAQ:NCNO) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• nCino has a “Moderate Buy” consensus rating among 17 analysts, with nine buys, one strong buy, six holds and one sell. The average 12-month price target is $23.42.
• NCNO shares opened at $22.68, with a market capitalization of approximately $2.40 billion and a 52-week trading range of $13.80 to $27.50.
• Institutional investors own 94.76% of nCino, while insiders own 1.90%; insiders sold $2.66 million worth of shares over the past 90 days, primarily to cover tax obligations tied to equity awards.

nCino Inc. (NASDAQ:NCNO - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $23.42.

Several research analysts have commented on NCNO shares. Wall Street Zen raised nCino from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. Stephens initiated coverage on nCino in a research report on Friday, October 16th. They issued an "overweight" rating and a $26.00 price target for the company. Piper Sandler began coverage on nCino in a report on Monday, August 24th. They issued an "overweight" rating and a $25.00 price objective on the stock. Citigroup reiterated a "market outperform" rating on shares of nCino in a research note on Wednesday, August 26th. Finally, Zacks Research cut nCino from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $22.68 on Monday. The firm has a fifty day moving average price of $21.06 and a 200 day moving average price of $18.35. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 75.60 and a beta of 0.76. nCino has a fifty-two week low of $13.80 and a fifty-two week 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.

Insider Activity at nCino

In related news, insider April Rieger sold 7,852 shares of nCino stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total transaction of $150,915.44. Following the completion of the transaction, the insider directly owned 375,749 shares in the company, valued at $7,221,895.78. The trade was a 2.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 company'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 value of $29,998.08. Following the completion of the transaction, the senior vice president directly owned 48,453 shares of the company's stock, valued at approximately $946,287.09. This trade represents a 3.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 134,130 shares of company stock worth $2,662,794 over the last ninety days. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC grew its holdings in shares of nCino by 9.1% during the first quarter. Janney Montgomery Scott LLC now owns 12,467 shares of the company's stock worth $187,000 after buying an additional 1,039 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in nCino by 4.4% in the first quarter. Kornitzer Capital Management Inc. KS now owns 25,915 shares of the company's stock valued at $388,000 after purchasing an additional 1,087 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of nCino by 8.5% in the first quarter. The Manufacturers Life Insurance Company now owns 23,973 shares of the company's stock worth $359,000 after acquiring an additional 1,870 shares during the last quarter. IFP Advisors Inc raised its stake in nCino by 7,370.4% in the second quarter. IFP Advisors Inc now owns 2,017 shares of the company's stock valued at $33,000 after buying an additional 1,990 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its position in nCino by 6.0% during the third quarter. Angeles Wealth Management LLC now owns 36,010 shares of the company's stock worth $653,000 after acquiring an additional 2,052 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

nCino Company Profile

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 banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.

The company's products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.

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