nCino Inc. (NASDAQ:NCNO) Given Consensus Rating of “Moderate Buy” by Brokerages

nCino Inc. (NASDAQ:NCNO) has been assigned an average rating of “Moderate Buy” from the nineteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $25.2857.

A number of brokerages recently issued reports on NCNO. Truist Financial reduced their price target on nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. Barclays upped their target price on nCino from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of nCino in a report on Wednesday, June 24th. Citigroup restated a “market outperform” rating on shares of nCino in a research report on Monday, June 22nd. Finally, Zacks Research downgraded nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday.

Insider Activity

In other nCino news, SVP Jeanette Sellers sold 3,695 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $18.04, for a total value of $66,657.80. Following the transaction, the senior vice president directly owned 50,876 shares of the company’s stock, valued at $917,803.04. This trade represents a 6.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gregory Orenstein sold 14,650 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $263,993.00. Following the completion of the transaction, the chief financial officer owned 702,293 shares of the company’s stock, valued at $12,655,319.86. The trade was a 2.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 119,964 shares of company stock valued at $2,143,529. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On nCino

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its stake in shares of nCino by 16.6% in the 1st quarter. Millennium Management LLC now owns 303,853 shares of the company’s stock valued at $8,347,000 after purchasing an additional 43,247 shares during the last quarter. Woodline Partners LP increased its position in nCino by 105.3% in the 1st quarter. Woodline Partners LP now owns 13,227 shares of the company’s stock valued at $363,000 after acquiring an additional 6,783 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of nCino by 16.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 281,435 shares of the company’s stock valued at $7,731,000 after acquiring an additional 39,345 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of nCino during the second quarter worth $208,000. Finally, Marshall Wace LLP acquired a new position in shares of nCino during the second quarter worth $4,163,000. 94.76% of the stock is currently owned by institutional investors.

nCino Stock Up 1.7%

NASDAQ NCNO opened at $18.83 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. nCino has a 1-year low of $13.80 and a 1-year high of $33.92. The company has a 50 day moving average of $16.31 and a 200-day moving average of $17.32. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 156.92 and a beta of 0.68.

nCino Company Profile

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.