nCino Inc. (NASDAQ:NCNO) Stock Has Average Target Price of $24.38

nCino Inc. (NASDAQ:NCNO) has been assigned an average recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $24.38.

A number of equities analysts have recently issued reports on the stock. Citigroup reiterated a “market outperform” rating on shares of nCino in a report on Wednesday, August 26th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of nCino in a research note on Wednesday, August 26th. Zacks Research downgraded shares of nCino from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Barclays upped their target price on shares of nCino from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 26th. Finally, BTIG Research restated a “neutral” rating on shares of nCino in a research report on Wednesday, August 26th.

nCino Trading Down 0.2%

NASDAQ:NCNO opened at $19.67 on Thursday. nCino has a 1 year low of $13.80 and a 1 year high of $27.50. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day moving average price of $20.56 and a two-hundred day moving average price of $18.06. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 65.57 and a beta of 0.81.

Insider Activity at nCino

In related news, Director Pierre Naude sold 4,677 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $89,891.94. Following the sale, the director owned 1,116,707 shares in the company, valued at $21,463,108.54. This represents a 0.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $226,411.60. Following the completion of the sale, the chief financial officer owned 690,513 shares in the company, valued at approximately $13,271,659.86. This represents a 1.68% 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. In the last 90 days, insiders sold 134,130 shares of company stock worth $2,662,794. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of nCino

Institutional investors have recently bought and sold shares of the company. Steel Grove Capital Advisors LLC purchased a new stake in nCino during the 3rd quarter worth about $204,000. Integrated Wealth Concepts LLC acquired a new stake in shares of nCino during the second quarter worth $344,000. IFP Advisors Inc boosted its holdings in shares of nCino by 7,370.4% during the second quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,990 shares during the last quarter. Allworth Financial LP grew its position in shares of nCino by 282.4% in the second quarter. Allworth Financial LP now owns 13,268 shares of the company’s stock valued at $217,000 after purchasing an additional 9,798 shares during the period. Finally, Corient Private Wealth LP grew its position in shares of nCino by 83.1% in the second quarter. Corient Private Wealth LP now owns 33,960 shares of the company’s stock valued at $555,000 after purchasing an additional 15,410 shares during the period. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Company Profile

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize and manage core banking processes through a unified, configurable operating environment.

The company’s products support commercial, small-business and consumer lending; account opening and deposit origination; customer onboarding; loan and relationship management; workflow automation; and portfolio and analytics capabilities.