nCino (NASDAQ:NCNO) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded nCino from “hold” to “buy.” MarketBeat’s analyst consensus is “Moderate Buy,” with a consensus price target of $25.29.
• nCino shares opened at $20.62, up 1.3%, with the stock trading above its 50-day and 200-day moving averages. The company has a $2.26 billion market capitalization and a 52-week range of $13.80 to $33.92.
• Insiders have sold 83,350 shares worth approximately $1.57 million over the past three months, while institutional investors and hedge funds own 94.76% of nCino’s stock.

nCino (NASDAQ:NCNO - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently weighed in on NCNO. Weiss Ratings raised shares of nCino from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of nCino in a report on Wednesday, June 24th. Zacks Research lowered shares of nCino from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. The Goldman Sachs Group reduced their target price on shares of nCino from $24.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, May 14th. Finally, Citizens Jmp decreased their target price on nCino from $32.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $25.29.

nCino Trading Up 1.3%

Shares of nCino stock opened at $20.62 on Friday. The company's fifty day simple moving average is $17.66 and its 200-day simple moving average is $16.87. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 171.83 and a beta of 0.66. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. nCino has a 1 year low of $13.80 and a 1 year high of $33.92.

Insider Buying and Selling

In other news, SVP Jeanette Sellers sold 1,536 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total value of $29,998.08. Following the sale, the senior vice president owned 48,453 shares of the company's stock, valued at approximately $946,287.09. This represents a 3.07% decrease in their position. The transaction was disclosed in a document filed 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, CFO Gregory Orenstein sold 11,780 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total transaction of $226,411.60. Following the sale, the chief financial officer owned 690,513 shares of the company's stock, valued at $13,271,659.86. This trade represents a 1.68% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 83,350 shares of company stock worth $1,568,144 in the last three months. Company insiders own 1.90% of the company's stock.

Institutional Trading of nCino

Hedge funds have recently modified their holdings of the company. CWM LLC boosted its holdings in shares of nCino by 255.8% in the 4th quarter. CWM LLC now owns 1,142 shares of the company's stock worth $29,000 after acquiring an additional 821 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in nCino during the 4th quarter valued at $38,000. Farther Finance Advisors LLC raised its position in nCino by 76.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company's stock valued at $43,000 after purchasing an additional 722 shares during the last quarter. Quarry LP raised its position in nCino by 138.2% in the 3rd quarter. Quarry LP now owns 1,701 shares of the company's stock valued at $46,000 after purchasing an additional 987 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new position in nCino in the first quarter worth $32,000. Institutional investors and hedge funds own 94.76% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source