nCino Inc. (NASDAQ:NCNO) Receives $24.38 Average Target Price from Analysts

Shares of nCino Inc. (NASDAQ:NCNO) have been given an average recommendation of “Moderate Buy” by the eighteen research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $24.3846.

A number of research analysts have issued reports on NCNO shares. Morgan Stanley boosted their price target on nCino from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, August 26th. Keefe, Bruyette & Woods lifted their target price on shares of nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. BTIG Research reiterated a “neutral” rating on shares of nCino in a research note on Wednesday, August 26th. Piper Sandler assumed coverage on shares of nCino in a report on Monday, August 24th. They set an “overweight” rating and a $25.00 price target on the stock. Finally, Citizens Jmp raised their price target on shares of nCino from $23.00 to $25.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 26th.

nCino Stock Down 1.2%

Shares of NCNO opened at $21.91 on Friday. nCino has a 52 week low of $13.80 and a 52 week high of $31.23. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 73.03 and a beta of 0.69. The stock’s 50-day moving average price is $19.82 and its 200-day moving average price is $17.48.

Insiders Place Their Bets

In other news, insider April Rieger sold 7,852 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $150,915.44. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeanette Sellers sold 1,536 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total value of $29,998.08. Following the sale, the senior vice president owned 48,453 shares in the company, valued at $946,287.09. This trade represents a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 84,040 shares of company stock valued at $1,643,481. Insiders own 1.90% of the company’s stock.

Institutional Trading of nCino

Several institutional investors have recently bought and sold shares of NCNO. Integrated Wealth Concepts LLC purchased a new position in nCino in the 2nd quarter valued at about $344,000. IFP Advisors Inc increased its stake in nCino by 7,370.4% during the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after buying an additional 1,990 shares in the last quarter. Allworth Financial LP increased its stake in nCino by 282.4% during the 2nd quarter. Allworth Financial LP now owns 13,268 shares of the company’s stock worth $217,000 after buying an additional 9,798 shares in the last quarter. Corient Private Wealth LP raised its holdings in shares of nCino by 83.1% during the second quarter. Corient Private Wealth LP now owns 33,960 shares of the company’s stock valued at $555,000 after acquiring an additional 15,410 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of nCino during the second quarter valued at approximately $455,000. 94.76% of the stock is owned by institutional investors and hedge funds.

About nCino

nCino, Inc (NASDAQ: NCNO) provides cloud-based software designed to help banks, credit unions and other financial institutions manage and modernize their operations. Its platform, known as the nCino Bank Operating System, is built to streamline processes, improve collaboration and provide a unified view of customer and financial data.

The company’s products support commercial, small-business, consumer and mortgage lending, as well as account opening, deposit origination, onboarding, credit analysis, portfolio management and regulatory compliance.