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

Key Points

• Analysts maintain a “Moderate Buy” consensus on nCino, with 11 buy ratings, six holds, one sell and one strong-buy rating. The average 12-month price target is $25.29.
• Recent analyst actions were mixed: Needham reaffirmed a buy rating with a $25 target, while Citizens JMP and Goldman Sachs lowered their price targets to $23 and $21, respectively.
• nCino shares opened at $20.20, compared with a 52-week range of $13.80 to $33.92. Institutional investors own a substantial 94.76% of the company, while insiders sold 83,350 shares worth approximately $1.57 million over the past quarter.

Shares of nCino Inc. (NASDAQ:NCNO - Get Free Report) have been given a consensus rating of "Moderate Buy" by the nineteen analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $25.2857.

NCNO has been the topic of a number of recent research reports. Citigroup restated a "market outperform" rating on shares of nCino in a research report on Monday, June 22nd. Needham & Company LLC reissued a "buy" rating and issued a $25.00 target price on shares of nCino in a research note on Thursday, May 28th. Weiss Ratings upgraded nCino from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. Citizens Jmp dropped their price target on nCino from $32.00 to $23.00 and set a "market outperform" rating for the company in a research report on Monday, May 18th. Finally, The Goldman Sachs Group cut their price target on nCino from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, May 14th.

nCino Price Performance

nCino stock opened at $20.20 on Wednesday. nCino has a 52-week low of $13.80 and a 52-week high of $33.92. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 168.33 and a beta of 0.66. The company has a fifty day simple moving average of $17.33 and a 200-day simple moving average of $16.85. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling

In other nCino news, CEO Sean Desmond sold 11,815 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total value of $230,746.95. Following the completion of the sale, the chief executive officer directly owned 1,231,080 shares in the company, valued at $24,042,992.40. This represents a 0.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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, insider April Rieger sold 7,852 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $150,915.44. Following the completion of the sale, the insider directly owned 375,749 shares of the company's stock, valued at $7,221,895.78. This trade represents a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 83,350 shares of company stock worth $1,568,144 over the last quarter. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On nCino

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hawk Ridge Capital Management LP raised its holdings in nCino by 625.4% in the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company's stock valued at $67,138,000 after buying an additional 3,864,010 shares during the period. Algebris UK Ltd. boosted its stake in nCino by 266.2% during the fourth quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company's stock worth $26,493,000 after buying an additional 750,744 shares during the period. Hsbc Holdings PLC purchased a new position in nCino during the fourth quarter worth about $3,982,000. American Capital Management Inc. increased its position in shares of nCino by 17.1% during the first quarter. American Capital Management Inc. now owns 2,375,396 shares of the company's stock valued at $35,583,000 after acquiring an additional 347,587 shares during the last quarter. Finally, Spyglass Capital Management LLC increased its position in shares of nCino by 6.0% during the first quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company's stock valued at $46,217,000 after acquiring an additional 175,357 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

nCino Company Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.

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