Brokerages Set nCino, Inc. (NASDAQ:NCNO) Price Target at $42.50

nCino, Inc. (NASDAQ:NCNO) has been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $42.50.

A number of brokerages have issued reports on NCNO. William Blair reissued an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Piper Sandler reissued a “neutral” rating and set a $38.00 price target on shares of nCino in a report on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price objective on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Scotiabank increased their target price on shares of nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Stephens lifted their price target on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th.

nCino Stock Performance

Shares of NCNO stock opened at $33.41 on Friday. nCino has a 52-week low of $28.09 and a 52-week high of $43.20. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The stock has a market cap of $3.87 billion, a PE ratio of -196.52, a price-to-earnings-growth ratio of 16.39 and a beta of 0.59. The business has a 50-day simple moving average of $38.26 and a 200-day simple moving average of $34.23.

Insider Transactions at nCino

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the sale, the chief financial officer now directly owns 276,892 shares in the company, valued at $9,705,064.60. This represents a 1.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeff Horing sold 4,474,158 shares of nCino stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $35.75, for a total value of $159,951,148.50. Following the transaction, the director now owns 4,513,467 shares in the company, valued at approximately $161,356,445.25. This represents a 49.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,418,237 shares of company stock valued at $340,474,175. Corporate insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Hedge funds have recently modified their holdings of the company. Crewe Advisors LLC purchased a new stake in shares of nCino in the 2nd quarter valued at approximately $26,000. Asset Management One Co. Ltd. grew its position in nCino by 21.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after acquiring an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in nCino by 97.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after acquiring an additional 1,358 shares during the last quarter. West Tower Group LLC purchased a new stake in nCino in the third quarter valued at $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in shares of nCino in the 3rd quarter valued at $152,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

About nCino

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.