Barclays Lowers nCino (NASDAQ:NCNO) Price Target to $21.00

nCino (NASDAQ:NCNO) had its price objective decreased by analysts at Barclays from $34.00 to $21.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 45.03% from the stock’s current price.

Several other research firms have also recently issued reports on NCNO. Zacks Research cut shares of nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods boosted their price target on shares of nCino from $34.50 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. JPMorgan Chase & Co. reduced their price target on shares of nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. BTIG Research initiated coverage on shares of nCino in a report on Tuesday, December 16th. They issued a “neutral” rating on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of nCino in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.47.

nCino Price Performance

NCNO stock opened at $14.48 on Tuesday. The firm has a 50 day moving average of $18.06 and a 200-day moving average of $23.30. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.24. nCino has a 12 month low of $13.80 and a 12 month high of $33.92. The firm has a market capitalization of $1.66 billion, a P/E ratio of -80.44, a price-to-earnings-growth ratio of 2.84 and a beta of 0.59.

nCino declared that its board has approved a stock buyback plan on Monday, December 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Gregory Orenstein sold 10,562 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total transaction of $197,298.16. Following the transaction, the chief financial officer directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jeanette Sellers sold 2,182 shares of nCino stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $18.26, for a total value of $39,843.32. Following the completion of the transaction, the senior vice president owned 43,219 shares in the company, valued at approximately $789,178.94. This represents a 4.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 69,803 shares of company stock worth $1,345,743 over the last 90 days. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On nCino

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its position in nCino by 186.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock worth $26,000 after acquiring an additional 617 shares during the last quarter. CWM LLC lifted its position in nCino by 255.8% in the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after purchasing an additional 821 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of nCino by 68.5% during the second quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock valued at $32,000 after purchasing an additional 458 shares during the period. AlphaQuest LLC boosted its stake in shares of nCino by 5,022.2% during the third quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock valued at $37,000 after purchasing an additional 1,356 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of nCino in the fourth quarter worth approximately $38,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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.