nCino (NASDAQ:NCNO) Rating Increased to Overweight at Barclays

Barclays upgraded shares of nCino (NASDAQ:NCNO) from an equal weight rating to an overweight rating in a research report sent to investors on Monday, MarketBeat.com reports. They currently have $44.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. Macquarie upped their price target on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Scotiabank upped their price objective on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Robert W. Baird cut their target price on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Stephens boosted their price target on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Needham & Company LLC increased their price objective on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

nCino Price Performance

Shares of nCino stock opened at $33.51 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. nCino has a one year low of $28.09 and a one year high of $43.20. The business’s 50 day simple moving average is $37.91 and its two-hundred day simple moving average is $34.32. The stock has a market capitalization of $3.88 billion, a P/E ratio of -197.11, a price-to-earnings-growth ratio of 16.39 and a beta of 0.64.

Insider Activity

In related news, insider Sean Desmond sold 30,000 shares of nCino stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the completion of the transaction, the insider now directly owns 341,511 shares of the company’s stock, valued at $11,874,337.47. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeff Horing sold 54,876 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the sale, the director now owns 4,458,591 shares in the company, valued at approximately $156,050,685. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,473,113 shares of company stock worth $342,394,835. Corporate insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Hedge funds have recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. raised its position in shares of nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after purchasing an additional 341 shares during the last quarter. Malaga Cove Capital LLC increased its stake in nCino by 3.0% during the 3rd quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock valued at $430,000 after purchasing an additional 400 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in nCino by 3.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock worth $459,000 after buying an additional 508 shares during the last quarter. Precision Wealth Strategies LLC lifted its stake in shares of nCino by 4.5% in the third quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock worth $428,000 after buying an additional 589 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of nCino by 5.9% in the third quarter. Natixis Advisors LLC now owns 14,711 shares of the company’s stock worth $465,000 after buying an additional 822 shares in the last quarter. 94.76% of the stock is owned by institutional investors.

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.