Stephens Initiates Coverage on nCino (NASDAQ:NCNO)

Investment analysts at Stephens assumed coverage on shares of nCino (NASDAQ:NCNO) in a report issued on Friday. The firm set an “overweight” rating and a $26.00 price target on the stock. Stephens’ target price would suggest a potential upside of 22.87% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Keefe, Bruyette & Woods lifted their price objective on nCino from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. Citizens Jmp boosted their price target on shares of nCino from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 26th. Truist Financial lifted their target price on shares of nCino from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, August 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.38.

nCino Price Performance

Shares of nCino stock traded up $0.04 during trading hours on Friday, reaching $21.16. The stock had a trading volume of 64,355 shares, compared to its average volume of 2,807,712. nCino has a twelve month low of $13.80 and a twelve month high of $27.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.24 billion, a PE ratio of 71.63 and a beta of 0.81. The stock’s 50 day moving average is $20.61 and its 200 day moving average is $18.11.

Insider Buying and Selling at nCino

In other nCino news, SVP Jeanette Sellers sold 1,536 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total value of $29,998.08. Following the sale, the senior vice president directly owned 48,453 shares of the company’s stock, valued at approximately $946,287.09. This represents a 3.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sean Desmond sold 43,992 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $19.90, for a total value of $875,440.80. Following the sale, the chief executive officer directly owned 1,231,080 shares in the company, valued at $24,498,492. This trade represents a 3.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 134,130 shares of company stock valued at $2,662,794. Insiders own 1.90% of the company’s stock.

Institutional Trading of nCino

Large investors have recently bought and sold shares of the business. IFP Advisors Inc increased its stake in nCino by 7,370.4% in the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock valued at $33,000 after buying an additional 1,990 shares during the period. Optiver Holding B.V. acquired a new stake in shares of nCino in the first quarter valued at about $32,000. Versant Capital Management Inc increased its holdings in nCino by 664.9% in the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock valued at $40,000 after buying an additional 2,101 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in nCino by 5,250.0% in the first quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the company’s stock valued at $50,000 after buying an additional 3,255 shares in the last quarter. Finally, Essential Partners LLC lifted its position in shares of nCino by 9,400.0% during the 1st quarter. Essential Partners LLC now owns 3,800 shares of the company’s stock valued at $57,000 after acquiring an additional 3,760 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.