nCino, Inc. (NASDAQ:NCNO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of nCino, Inc. (NASDAQ:NCNO) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $42.50.

A number of research analysts have commented on the company. Piper Sandler restated a “neutral” rating and set a $38.00 price target on shares of nCino in a research note on Thursday, December 5th. William Blair reissued an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Barclays lifted their target price on nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods increased their price target on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, Scotiabank lifted their price objective on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th.

nCino Stock Performance

Shares of NCNO stock opened at $33.41 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $3.87 billion, a P/E ratio of -196.52, a P/E/G ratio of 16.39 and a beta of 0.59. The firm’s 50 day moving average price is $38.26 and its 200-day moving average price is $34.23. nCino has a one year low of $28.09 and a one year high of $43.20.

Insiders Place Their Bets

In other nCino news, Director Jeff Horing sold 4,474,158 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $35.75, for a total transaction of $159,951,148.50. Following the sale, the director now owns 4,513,467 shares of the company’s stock, valued at approximately $161,356,445.25. This trade represents a 49.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $35.05, for a total transaction of $136,169.25. Following the completion of the transaction, the chief financial officer now owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. The trade was a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,418,237 shares of company stock valued at $340,474,175 in the last ninety days. Insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. increased its position in shares of nCino by 46.0% during the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after purchasing an additional 344,269 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in nCino during the 3rd quarter worth approximately $689,000. Verition Fund Management LLC acquired a new position in nCino during the third quarter worth approximately $594,000. Charles Schwab Investment Management Inc. lifted its stake in nCino by 51.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock valued at $17,588,000 after buying an additional 189,283 shares during the last quarter. Finally, Select Equity Group L.P. boosted its holdings in shares of nCino by 182.0% in the second quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock valued at $800,000 after acquiring an additional 16,416 shares during the period. 94.76% of the stock is owned by hedge funds and other institutional investors.

nCino Company Profile

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.