Scotiabank Cuts nCino (NASDAQ:NCNO) Price Target to $35.00

nCino (NASDAQ:NCNO) had its price objective trimmed by Scotiabank from $42.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a sector outperform rating on the stock.

NCNO has been the subject of a number of other reports. Stephens reissued an “equal weight” rating and set a $38.00 price objective on shares of nCino in a report on Thursday, March 20th. William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Piper Sandler reiterated a “neutral” rating and issued a $38.00 target price on shares of nCino in a research note on Thursday, December 5th. Raymond James cut their price objective on nCino from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, March 25th. Finally, UBS Group started coverage on nCino in a report on Monday, December 16th. They set a “buy” rating and a $44.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $41.36.

nCino Price Performance

Shares of nCino stock opened at $28.92 on Thursday. nCino has a twelve month low of $27.29 and a twelve month high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $3.35 billion, a P/E ratio of -170.11, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. The firm’s 50-day simple moving average is $31.44 and its 200-day simple moving average is $34.18.

Insiders Place Their Bets

In related news, CFO Gregory Orenstein sold 5,148 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $167,824.80. Following the completion of the transaction, the chief financial officer now owns 271,744 shares in the company, valued at approximately $8,858,854.40. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider April Rieger sold 4,325 shares of nCino stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of the sale, the insider now owns 145,953 shares in the company, valued at $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,877 shares of company stock worth $2,963,893 over the last ninety days. 28.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Fifth Third Bancorp acquired a new stake in shares of nCino during the 4th quarter worth about $34,000. Hilltop National Bank bought a new position in shares of nCino during the fourth quarter worth approximately $37,000. Johnson Financial Group Inc. acquired a new stake in nCino during the 4th quarter worth approximately $57,000. Asset Management One Co. Ltd. grew its holdings in nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after buying an additional 323 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. bought a new position in nCino during the 3rd quarter worth $152,000. 94.76% of the stock is owned by institutional investors and hedge funds.

nCino Company Profile

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.