nCino Inc. (NASDAQ:NCNO) Receives Average Recommendation of “Moderate Buy” from Analysts

nCino Inc. (NASDAQ:NCNO) has received an average recommendation of “Moderate Buy” from the twenty research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $32.3333.

Several equities research analysts recently weighed in on NCNO shares. JPMorgan Chase & Co. reduced their price objective on shares of nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Zacks Research cut shares of nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Truist Financial dropped their price target on shares of nCino from $32.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, December 4th. UBS Group reaffirmed a “buy” rating and issued a $36.00 price target on shares of nCino in a research note on Tuesday, December 9th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of nCino from $34.50 to $36.00 and gave the company an “outperform” rating in a report on Thursday, December 4th.

nCino Trading Down 1.9%

NASDAQ:NCNO opened at $15.20 on Friday. nCino has a 1 year low of $13.80 and a 1 year high of $33.92. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -84.44, a PEG ratio of 3.00 and a beta of 0.59. The business has a fifty day moving average of $18.67 and a 200-day moving average of $23.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.01 and a current ratio of 1.01.

nCino announced that its board has authorized a share repurchase program on Monday, December 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 3.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CEO Sean Desmond sold 16,047 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $299,757.96. Following the sale, the chief executive officer owned 602,550 shares of the company’s stock, valued at approximately $11,255,634. The trade was a 2.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gregory Orenstein sold 10,562 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total value of $197,298.16. Following the completion of the sale, the chief financial officer owned 451,184 shares of the company’s stock, valued at approximately $8,428,117.12. This trade represents a 2.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 69,803 shares of company stock worth $1,345,743 in the last quarter. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nCino

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC bought a new position in shares of nCino during the 4th quarter valued at about $3,982,000. Rockefeller Capital Management L.P. raised its holdings in shares of nCino by 66.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 383,812 shares of the company’s stock worth $9,841,000 after purchasing an additional 153,162 shares in the last quarter. Alpine Global Management LLC bought a new stake in shares of nCino in the 4th quarter worth approximately $206,000. Invesco Ltd. lifted its stake in nCino by 13.6% during the fourth quarter. Invesco Ltd. now owns 168,339 shares of the company’s stock valued at $4,316,000 after purchasing an additional 20,102 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in nCino by 68.1% during the fourth quarter. XTX Topco Ltd now owns 82,508 shares of the company’s stock worth $2,116,000 after buying an additional 33,418 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors.

About nCino

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.