Robert W. Baird Cuts nCino (NASDAQ:NCNO) Price Target to $42.00

nCino (NASDAQ:NCNO) had its price target cut by Robert W. Baird from $43.00 to $42.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently commented on NCNO. Truist Financial restated a “buy” rating and set a $44.00 target price (up from $37.00) on shares of nCino in a report on Monday, October 21st. Needham & Company LLC increased their price objective on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price target on shares of nCino in a research report on Thursday. Morgan Stanley raised their target price on shares of nCino from $30.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, December 2nd. Finally, Barclays lifted their target price on nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, nCino presently has an average rating of “Moderate Buy” and an average target price of $42.38.

nCino Stock Performance

NCNO stock opened at $37.41 on Thursday. nCino has a 1-year low of $28.09 and a 1-year high of $43.20. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The firm has a market cap of $4.32 billion, a PE ratio of -220.05, a P/E/G ratio of 35.24 and a beta of 0.59. The business’s 50-day moving average price is $37.84 and its two-hundred day moving average price is $33.65.

Insider Activity

In other nCino news, Director William J. Ruh sold 10,000 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $37.50, for a total value of $375,000.00. Following the transaction, the director now directly owns 226,201 shares of the company’s stock, valued at $8,482,537.50. This represents a 4.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeff Horing sold 1,833,975 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the sale, the director now owns 12,513,467 shares of the company’s stock, valued at approximately $458,243,161.54. This represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,235,029 shares of company stock valued at $117,599,204 over the last three months. Insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

A number of large investors have recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in nCino in the 2nd quarter valued at $26,000. Asset Management One Co. Ltd. boosted its position in shares of nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after acquiring an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of nCino by 97.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after acquiring an additional 1,358 shares in the last quarter. West Tower Group LLC bought a new position in nCino during the third quarter worth about $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in nCino in the 3rd quarter worth about $152,000. Institutional investors own 94.76% of the company’s stock.

About nCino

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.