nCino (NASDAQ:NCNO) Stock Price Up 7.3% – Should You Buy?

nCino Inc. (NASDAQ:NCNO)’s stock price traded up 7.3% during mid-day trading on Monday . The stock traded as high as $17.72 and last traded at $17.7650. 208,043 shares traded hands during trading, a decline of 93% from the average session volume of 3,002,115 shares. The stock had previously closed at $16.56.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NCNO shares. Robert W. Baird cut their price objective on shares of nCino from $34.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Weiss Ratings raised shares of nCino from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. The Goldman Sachs Group cut their price target on shares of nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Finally, Barclays lifted their price objective on shares of nCino from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, nCino has an average rating of “Moderate Buy” and a consensus target price of $25.29.

nCino Stock Performance

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $2.03 billion, a PE ratio of 154.25 and a beta of 0.68. The firm’s fifty day moving average price is $16.24 and its two-hundred day moving average price is $17.37.

Insider Transactions at nCino

In other news, Director Pierre Naude sold 35,650 shares of nCino stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $642,413.00. Following the sale, the director owned 1,108,473 shares in the company, valued at $19,974,683.46. This trade represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 14,650 shares of nCino stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $263,993.00. Following the completion of the sale, the chief financial officer owned 702,293 shares in the company, valued at approximately $12,655,319.86. The trade was a 2.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 119,964 shares of company stock worth $2,143,529 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Trading of nCino

Several hedge funds have recently made changes to their positions in NCNO. CWM LLC grew its position in nCino by 255.8% in the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $29,000 after acquiring an additional 821 shares during the period. Optiver Holding B.V. acquired a new position in shares of nCino in the 1st quarter valued at $32,000. Los Angeles Capital Management LLC acquired a new position in shares of nCino in the 4th quarter valued at $38,000. Versant Capital Management Inc grew its holdings in shares of nCino by 664.9% during the 2nd quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock worth $40,000 after purchasing an additional 2,101 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of nCino by 76.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after purchasing an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

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.