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

nCino, Inc. (NASDAQ:NCNO) has received an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $42.50.

A number of equities analysts have issued reports on the stock. William Blair reissued an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Piper Sandler reissued a “neutral” rating and issued a $38.00 target price on shares of nCino in a report on Thursday, December 5th. UBS Group assumed coverage on shares of nCino in a report on Monday, December 16th. They issued a “buy” rating and a $44.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Finally, Morgan Stanley cut their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $32.06 on Friday. 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 firm’s 50-day moving average price is $33.69 and its two-hundred day moving average price is $34.60. nCino has a 52-week low of $28.09 and a 52-week high of $43.20. The stock has a market capitalization of $3.71 billion, a P/E ratio of -188.58, a P/E/G ratio of 5.80 and a beta of 0.65.

Insider Buying and Selling

In related news, CFO Gregory Orenstein sold 5,148 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $167,824.80. Following the sale, the chief financial officer now owns 271,744 shares of the company’s stock, valued at $8,858,854.40. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff Horing sold 450,000 shares of nCino stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $37.27, for a total transaction of $16,771,500.00. Following the completion of the transaction, the director now owns 12,063,467 shares in the company, valued at approximately $449,605,415.09. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,270,085 shares of company stock valued at $225,838,863 over the last quarter. Corporate insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in nCino by 9.6% in the fourth quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock worth $363,697,000 after buying an additional 948,282 shares during the last quarter. Wasatch Advisors LP grew its position in nCino by 171.9% in the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock worth $207,450,000 after buying an additional 3,905,802 shares during the last quarter. Capital International Investors grew its position in nCino by 57.4% in the fourth quarter. Capital International Investors now owns 4,691,204 shares of the company’s stock worth $157,531,000 after buying an additional 1,710,893 shares during the last quarter. Long Path Partners LP grew its position in nCino by 43.7% in the third quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock worth $117,559,000 after buying an additional 1,131,271 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in nCino by 139.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company’s stock worth $108,834,000 after buying an additional 1,889,283 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.