nCino Inc. (NASDAQ:NCNO) Stock Has Average Target Price of $23.42

nCino Inc. (NASDAQ:NCNO) has received a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $23.42.

NCNO has been the topic of a number of recent analyst reports. Piper Sandler started coverage on nCino in a research note on Monday, August 24th. They issued an “overweight” rating and a $25.00 price objective on the stock. KeyCorp restated a “sector weight” rating on shares of nCino in a research note on Monday, October 12th. Barclays raised their target price on nCino from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, August 26th. Truist Financial lifted their price target on nCino from $19.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, August 26th. Finally, Citizens Jmp upped their price target on shares of nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 26th.

More nCino News

Here are the key news stories impacting nCino this week:

• Positive Sentiment: nCino’s recently launched AI suite could offer a growth opportunity. Investor attention may turn to adoption and management’s outlook when the company reports earnings in December. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several nCino executives and insiders, including CEO Sean Desmond and CFO Gregory Orenstein, sold shares. The reported transactions totaled about 66,700 shares, but were described as covering tax withholding on vested equity awards; the CEO’s sales were made under a pre-arranged trading plan. This may draw attention, though the stated reasons make it a limited indicator of their view on NCNO. Article: Insider Selling: nCino SVP Sells 905 Shares

nCino Price Performance

NASDAQ NCNO opened at $22.67 on Monday. The stock’s 50 day simple moving average is $21.22 and its 200 day simple moving average is $18.32. nCino has a one year low of $13.80 and a one year high of $27.50. The firm has a market cap of $2.40 billion, a PE ratio of 75.57 and a beta of 0.76. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85.

Insider Activity at nCino

In other news, CEO Sean Desmond sold 11,757 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $22.81, for a total transaction of $268,177.17. Following the transaction, the chief executive officer directly owned 1,257,460 shares in the company, valued at approximately $28,682,662.60. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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, Director Pierre Naude sold 4,770 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total transaction of $108,422.10. Following the transaction, the director owned 1,111,937 shares in the company, valued at $25,274,328.01. The trade was a 0.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 133,610 shares of company stock worth $2,883,725. 1.90% of the stock is owned by insiders.

Institutional Trading of nCino

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in nCino during the 2nd quarter valued at about $147,492,000. Bank of America Corp DE bought a new position in shares of nCino in the 2nd quarter valued at about $84,319,000. American Capital Management Inc. acquired a new stake in shares of nCino during the 2nd quarter worth approximately $83,508,000. HMI Capital Management L.P. acquired a new stake in shares of nCino during the 2nd quarter worth approximately $81,598,000. Finally, Hawk Ridge Capital Management LP grew its position in shares of nCino by 625.4% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock worth $67,138,000 after buying an additional 3,864,010 shares during the period. Institutional investors and hedge funds own 94.76% of the company’s stock.

About nCino

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 banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.

The company’s products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.