nCino (NASDAQ:NCNO) Price Target Cut to $21.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley cut its price target for nCino from $36 to $21 but kept an "overweight" rating, a target that the report says implies about a 46% upside from the stock's current price.
• Analyst consensus remains mixed-to-positive with an average rating of "Moderate Buy" and an average price target of $30.53 (1 Strong Buy, 10 Buy, 8 Hold, 1 Sell).
• nCino's board authorized a $100 million buyback (≈3.7% of shares) even as insiders sold roughly 69,803 shares (~$1.35M) in the last 90 days; the stock trades around $14.34 with a market cap of $1.64 billion and a 12‑month range of $13.80–$33.92.

nCino (NASDAQ:NCNO - Get Free Report) had its price target lowered by analysts at Morgan Stanley from $36.00 to $21.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price target indicates a potential upside of 46.48% from the stock's current price.

NCNO has been the topic of a number of other research reports. BTIG Research began coverage on nCino in a research note on Tuesday, December 16th. They issued a "neutral" rating on the stock. Needham & Company LLC restated a "buy" rating and issued a $38.00 target price on shares of nCino in a research note on Thursday, December 4th. UBS Group reiterated a "buy" rating and issued a $36.00 price target on shares of nCino in a report on Tuesday, December 9th. Zacks Research lowered shares of nCino from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Finally, Truist Financial dropped their target price on shares of nCino from $32.00 to $27.00 and set a "hold" rating on the stock in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, nCino currently has an average rating of "Moderate Buy" and an average price target of $30.53.

nCino Stock Performance

nCino stock traded up $0.33 during midday trading on Monday, hitting $14.34. 1,095,115 shares of the company's stock were exchanged, compared to its average volume of 2,199,217. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.01 and a current ratio of 1.01. The firm's 50 day simple moving average is $17.67 and its 200 day simple moving average is $23.02. nCino has a 12-month low of $13.80 and a 12-month high of $33.92. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -79.61, a price-to-earnings-growth ratio of 2.76 and a beta of 0.59.

nCino declared that its Board of Directors has initiated a stock buyback program on Monday, December 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at nCino

In related news, insider April Rieger sold 8,078 shares of nCino stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $150,897.04. Following the transaction, the insider owned 221,696 shares of the company's stock, valued at approximately $4,141,281.28. This trade represents a 3.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Orenstein sold 10,562 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total transaction of $197,298.16. Following the sale, the chief financial officer owned 451,184 shares in the company, valued at $8,428,117.12. This represents a 2.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 69,803 shares of company stock valued at $1,345,743 over the last ninety days. Company insiders own 5.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in nCino by 186.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 948 shares of the company's stock worth $26,000 after acquiring an additional 617 shares during the period. CWM LLC lifted its holdings in shares of nCino by 255.8% during the fourth quarter. CWM LLC now owns 1,142 shares of the company's stock worth $29,000 after buying an additional 821 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of nCino by 68.5% in the second quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company's stock valued at $32,000 after acquiring an additional 458 shares during the period. AlphaQuest LLC grew its stake in shares of nCino by 5,022.2% in the third quarter. AlphaQuest LLC now owns 1,383 shares of the company's stock worth $37,000 after acquiring an additional 1,356 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in nCino during the fourth quarter worth $38,000. 94.76% of the stock is owned by institutional investors and hedge funds.

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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