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

Key Points

• nCino now has a consensus analyst rating of “Moderate Buy” from 19 covering analysts, with an average 12-month price target of about $25.29.
• Recent broker moves were mixed: several firms raised ratings or maintained bullish views, while others cut price targets, including Piper Sandler and Truist Financial.
• Shares opened at $16.56, well below the average target, and the article also noted recent insider sales by CEO Sean Desmond and SVP Jeanette Sellers.

nCino Inc. (NASDAQ:NCNO - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nineteen analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $25.2857.

A number of brokerages have commented on NCNO. Piper Sandler raised nCino from a "neutral" rating to an "overweight" rating and lowered their price target for the stock from $30.00 to $22.00 in a research report on Wednesday, April 1st. Weiss Ratings raised nCino from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. Barclays raised their price objective on nCino from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 1st. Citizens Jmp decreased their target price on nCino from $32.00 to $23.00 and set a "market outperform" rating for the company in a report on Monday, May 18th. Finally, Truist Financial dropped their target price on nCino from $27.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, April 1st.

nCino Price Performance

Shares of NCNO opened at $16.56 on Friday. The firm has a market capitalization of $1.81 billion, a PE ratio of 138.00 and a beta of 0.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. nCino has a 1-year low of $13.80 and a 1-year high of $33.92. The company's fifty day moving average price is $16.12 and its 200-day moving average price is $17.52.

Insider Buying and Selling at nCino

In other news, CEO Sean Desmond sold 8,064 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $17.47, for a total value of $140,878.08. Following the sale, the chief executive officer owned 1,262,492 shares in the company, valued at $22,055,735.24. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal 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. Also, SVP Jeanette Sellers sold 3,695 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $18.04, for a total transaction of $66,657.80. Following the transaction, the senior vice president directly owned 50,876 shares of the company's stock, valued at approximately $917,803.04. This trade represents a 6.77% 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. In the last 90 days, insiders sold 119,964 shares of company stock worth $2,143,529. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On nCino

Hedge funds have recently added to or reduced their stakes in the business. Senvest Management LLC raised its stake in shares of nCino by 30.2% during the 1st quarter. Senvest Management LLC now owns 5,308,468 shares of the company's stock valued at $79,521,000 after buying an additional 1,230,192 shares during the last quarter. Hawk Ridge Capital Management LP boosted its stake in shares of nCino by 625.4% in the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company's stock worth $67,138,000 after buying an additional 3,864,010 shares during the last quarter. Spyglass Capital Management LLC boosted its stake in shares of nCino by 6.0% in the first quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company's stock worth $46,217,000 after buying an additional 175,357 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in nCino by 25.7% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company's stock worth $73,357,000 after acquiring an additional 585,786 shares during the period. Finally, Bank of America Corp DE grew its holdings in nCino by 475.1% during the third quarter. Bank of America Corp DE now owns 2,513,686 shares of the company's stock worth $68,146,000 after acquiring an additional 2,076,579 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

About nCino

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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