nCino (NASDAQ:NCNO) Price Target Raised to $41.00

nCino (NASDAQ:NCNO) had its price target lifted by stock analysts at Morgan Stanley from $30.00 to $41.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential downside of 3.44% from the company’s current price.

A number of other analysts have also recently commented on the company. Macquarie restated an “outperform” rating and issued a $40.00 price objective on shares of nCino in a research report on Wednesday, October 23rd. Barclays boosted their price objective on nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, November 25th. JMP Securities reiterated a “market outperform” rating and set a $43.00 price target on shares of nCino in a research report on Wednesday, August 28th. Truist Financial reiterated a “buy” rating and set a $44.00 price target (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Finally, William Blair reiterated an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, nCino currently has a consensus rating of “Moderate Buy” and an average target price of $40.17.

nCino Price Performance

Shares of nCino stock traded up $0.47 on Monday, reaching $42.46. The company’s stock had a trading volume of 479,915 shares, compared to its average volume of 1,058,922. The company has a market capitalization of $4.91 billion, a P/E ratio of -157.26, a PEG ratio of 34.82 and a beta of 0.55. nCino has a 52-week low of $28.00 and a 52-week high of $43.20. The stock has a 50-day moving average price of $36.90 and a 200-day moving average price of $33.38. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09.

Insider Activity at nCino

In other nCino news, Director Jeff Horing sold 1,833,975 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the sale, the director now owns 12,513,467 shares in the company, valued at $458,243,161.54. This represents a 12.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the sale, the chief financial officer now owns 276,892 shares in the company, valued at approximately $9,705,064.60. This trade represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,235,029 shares of company stock worth $117,599,204. 28.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On nCino

Several large investors have recently bought and sold shares of NCNO. Asset Management One Co. Ltd. increased its holdings in shares of nCino by 21.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after acquiring an additional 341 shares during the last quarter. Malaga Cove Capital LLC increased its holdings in shares of nCino by 3.0% in the 3rd quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock valued at $430,000 after acquiring an additional 400 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of nCino by 3.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,602 shares of the company’s stock valued at $459,000 after acquiring an additional 508 shares during the last quarter. Precision Wealth Strategies LLC increased its holdings in shares of nCino by 4.5% in the 3rd quarter. Precision Wealth Strategies LLC now owns 13,564 shares of the company’s stock valued at $428,000 after acquiring an additional 589 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of nCino in the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 94.76% of the company’s stock.

About nCino

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 connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.