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

Shares of nCino Inc. (NASDAQ:NCNO) have earned an average recommendation of “Moderate Buy” from the nineteen research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $25.2857.

A number of analysts recently issued reports on NCNO shares. Robert W. Baird lowered their price target 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 raised shares of nCino from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Morgan Stanley decreased their price objective on shares of nCino from $36.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, March 30th. Truist Financial lowered their target price on shares of nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Finally, Piper Sandler upgraded nCino from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $30.00 to $22.00 in a research report on Wednesday, April 1st.

nCino Price Performance

NASDAQ:NCNO opened at $16.56 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 138.00 and a beta of 0.68. The company has a 50 day moving average price of $16.12 and a 200-day moving average price of $17.52. nCino has a 1-year low of $13.80 and a 1-year high of $33.92.

Insider Buying and Selling

In other nCino news, insider April Rieger sold 9,693 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $174,667.86. Following the sale, the insider directly owned 383,601 shares of the company’s stock, valued at approximately $6,912,490.02. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 35,650 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $18.02, for a total value of $642,413.00. Following the completion of the sale, the director owned 1,108,473 shares of the company’s stock, valued at $19,974,683.46. This trade represents a 3.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 119,964 shares of company stock worth $2,143,529 in the last ninety days. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On nCino

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in nCino by 255.8% in the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares during the period. Optiver Holding B.V. acquired a new position in nCino during the first quarter worth $32,000. Los Angeles Capital Management LLC acquired a new position in nCino during the fourth quarter worth $38,000. Versant Capital Management Inc lifted its holdings in nCino by 664.9% during the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock valued at $40,000 after purchasing an additional 2,101 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in nCino by 76.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock valued at $43,000 after purchasing an additional 722 shares in the last quarter. Institutional investors and hedge funds 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.