nCino (NASDAQ:NCNO) Price Target Raised to $42.00 at Needham & Company LLC

nCino (NASDAQ:NCNO) had its price target boosted by Needham & Company LLC from $40.00 to $42.00 in a research report released on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

NCNO has been the subject of several other research reports. Robert W. Baird raised their price objective on shares of nCino from $34.00 to $36.00 and gave the company a neutral rating in a research report on Wednesday. Morgan Stanley raised shares of nCino from an underweight rating to an equal weight rating and upped their price objective for the company from $24.00 to $27.00 in a research note on Friday, March 15th. Truist Financial reduced their price objective on shares of nCino from $40.00 to $37.00 and set a buy rating for the company in a research note on Thursday, November 30th. Finally, Piper Sandler reissued an overweight rating and issued a $42.00 price target on shares of nCino in a research report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $35.40.

nCino Stock Performance

NASDAQ:NCNO opened at $35.90 on Wednesday. nCino has a twelve month low of $21.26 and a twelve month high of $36.65. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average of $30.69 and a 200-day moving average of $30.72. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -61.90, a price-to-earnings-growth ratio of 11.16 and a beta of 0.44.

Insider Activity at nCino

In related news, CEO Pierre Naude sold 5,767 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $31.22, for a total transaction of $180,045.74. Following the transaction, the chief executive officer now owns 1,024,253 shares of the company’s stock, valued at $31,977,178.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other nCino news, CEO Pierre Naude sold 5,767 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $31.22, for a total transaction of $180,045.74. Following the transaction, the chief executive officer now owns 1,024,253 shares in the company, valued at $31,977,178.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gregory Orenstein sold 1,814 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $31.22, for a total value of $56,633.08. Following the transaction, the chief financial officer now owns 220,715 shares in the company, valued at approximately $6,890,722.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,935 shares of company stock valued at $1,069,845. 38.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On nCino

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of nCino by 45.2% in the third quarter. Barclays PLC now owns 88,168 shares of the company’s stock worth $2,804,000 after acquiring an additional 27,452 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of nCino in the third quarter worth $1,161,000. Envestnet Asset Management Inc. grew its stake in shares of nCino by 85.3% in the third quarter. Envestnet Asset Management Inc. now owns 139,997 shares of the company’s stock worth $4,452,000 after acquiring an additional 64,446 shares during the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of nCino in the third quarter worth $3,171,000. Finally, Fred Alger Management LLC grew its stake in shares of nCino by 6.4% in the third quarter. Fred Alger Management LLC now owns 1,339,050 shares of the company’s stock worth $42,582,000 after acquiring an additional 80,556 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Company Profile

nCino, Inc, a software-as-a-service company, provides cloud-based software applications to financial institutions in the United States and internationally. Its nCino Bank Operating System, a secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.