nCino’s (NCNO) Neutral Rating Reiterated at BTIG Research

BTIG Research reaffirmed their neutral rating on shares of nCino (NASDAQ:NCNO) in a research note released on Wednesday, Marketbeat reports.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of nCino from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Zacks Research lowered shares of nCino from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of nCino in a research report on Thursday, May 28th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.38.

nCino Stock Performance

Shares of NCNO stock opened at $22.99 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.85. nCino has a fifty-two week low of $13.80 and a fifty-two week high of $32.53. The stock has a 50 day moving average price of $18.35 and a two-hundred day moving average price of $16.97. The company has a market capitalization of $2.43 billion, a P/E ratio of 76.63 and a beta of 0.66.

Insiders Place Their Bets

In other nCino news, 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 transaction of $226,411.60. Following the transaction, 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider April Rieger sold 7,852 shares of the 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 $150,915.44. Following the completion of the transaction, the insider directly owned 375,749 shares of the company’s stock, valued at $7,221,895.78. This represents a 2.05% decrease in their position. 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. Insiders sold a total of 83,350 shares of company stock valued at $1,568,144 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On nCino

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in nCino in the second quarter worth $147,492,000. Senvest Management LLC lifted its position in nCino by 30.2% during the first quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock valued at $79,521,000 after buying an additional 1,230,192 shares during the period. Bank of America Corp DE bought a new stake in shares of nCino during the 2nd quarter valued at $84,319,000. American Capital Management Inc. bought a new stake in shares of nCino during the 2nd quarter valued at $83,508,000. Finally, HMI Capital Management L.P. purchased a new stake in shares of nCino in the 2nd quarter worth about $81,598,000. 94.76% of the stock is currently owned by institutional investors.

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.