Analysts Set nCino, Inc. (NASDAQ:NCNO) PT at $42.50

Shares of nCino, Inc. (NASDAQ:NCNO) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $42.50.

NCNO has been the topic of a number of research analyst reports. William Blair reiterated an “outperform” rating on shares of nCino in a research report on Thursday, December 5th. UBS Group initiated coverage on nCino in a report on Monday, December 16th. They set a “buy” rating and a $44.00 price objective on the stock. Piper Sandler reissued a “neutral” rating and issued a $38.00 target price on shares of nCino in a report on Thursday, December 5th. Needham & Company LLC upped their price target on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Morgan Stanley dropped their price objective on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research note on Friday, December 6th.

Insiders Place Their Bets

In other nCino news, Director Jeff Horing sold 4,474,158 shares of nCino stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $35.75, for a total transaction of $159,951,148.50. Following the completion of the sale, the director now directly owns 4,513,467 shares of the company’s stock, valued at $161,356,445.25. The trade was a 49.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sean Desmond sold 30,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the transaction, the insider now owns 341,511 shares in the company, valued at approximately $11,874,337.47. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,418,237 shares of company stock worth $340,474,175 over the last quarter. Company insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NCNO. Franklin Resources Inc. boosted its position in nCino by 46.0% during the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after purchasing an additional 344,269 shares in the last quarter. Synovus Financial Corp purchased a new stake in shares of nCino during the third quarter valued at about $656,000. Sanctuary Advisors LLC bought a new stake in shares of nCino in the 3rd quarter valued at about $189,000. Geode Capital Management LLC grew its position in shares of nCino by 26.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company’s stock worth $47,951,000 after buying an additional 313,637 shares during the last quarter. Finally, Bullseye Asset Management LLC raised its stake in shares of nCino by 58.5% during the 3rd quarter. Bullseye Asset Management LLC now owns 140,878 shares of the company’s stock worth $4,451,000 after acquiring an additional 52,000 shares in the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Stock Performance

NCNO opened at $34.43 on Friday. The company has a fifty day moving average of $38.58 and a 200 day moving average of $34.19. nCino has a fifty-two week low of $28.09 and a fifty-two week high of $43.20. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -202.52, a PEG ratio of 16.39 and a beta of 0.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95.

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.