Brokerages Set nCino Inc. (NASDAQ:NCNO) Price Target at $25.29

Shares of nCino Inc. (NASDAQ:NCNO) have been assigned an average rating of “Moderate Buy” from the nineteen research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $25.2857.

NCNO has been the subject of a number of research analyst reports. Citizens Jmp decreased their price target on nCino from $32.00 to $23.00 and set a “market outperform” rating for the company in a research note on Monday, May 18th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of nCino in a research note on Wednesday, June 24th. Piper Sandler upgraded nCino from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $30.00 to $22.00 in a research report on Wednesday, April 1st. Robert W. Baird lowered their price objective on shares of nCino from $34.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Finally, Truist Financial dropped their target price on shares of nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st.

nCino Trading Up 0.5%

Shares of NCNO traded up $0.10 during mid-day trading on Tuesday, reaching $18.23. 1,488,332 shares of the company’s stock traded hands, compared to its average volume of 3,100,076. The stock has a market cap of $2.00 billion, a P/E ratio of 151.96 and a beta of 0.68. The stock’s 50-day moving average is $16.00 and its two-hundred day moving average is $18.29. nCino has a 12 month low of $13.80 and a 12 month high of $33.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89.

Insider Buying and Selling

In other nCino news, insider April Rieger sold 9,693 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $174,667.86. Following the completion of the sale, the insider directly owned 383,601 shares in the company, valued at approximately $6,912,490.02. This represents a 2.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 35,650 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $642,413.00. Following the transaction, the director directly owned 1,108,473 shares in the company, valued at $19,974,683.46. The trade was a 3.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 113,773 shares of company stock valued at $2,035,522 over the last 90 days. 1.90% of the stock is owned by insiders.

Institutional Trading of nCino

A number of hedge funds have recently added to or reduced their stakes in NCNO. Hawk Ridge Capital Management LP increased its position in nCino by 625.4% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after purchasing an additional 3,864,010 shares during the period. Bank of America Corp DE lifted its position in shares of nCino by 475.1% in the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock worth $68,146,000 after purchasing an additional 2,076,579 shares during the period. Millennium Management LLC boosted its stake in shares of nCino by 262.8% during the fourth quarter. Millennium Management LLC now owns 2,341,532 shares of the company’s stock valued at $60,037,000 after purchasing an additional 1,696,051 shares in the last quarter. Senvest Management LLC increased its holdings in nCino by 68.6% during the fourth quarter. Senvest Management LLC now owns 4,078,276 shares of the company’s stock valued at $104,567,000 after buying an additional 1,658,868 shares during the period. Finally, Wellington Management Group LLP bought a new position in nCino in the third quarter worth approximately $36,962,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

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.