nCino Inc. (NASDAQ:NCNO) Receives $25.29 Consensus Target Price from Analysts

nCino Inc. (NASDAQ:NCNO) has received an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $25.2857.

Several equities analysts recently commented on NCNO shares. Citizens Jmp decreased their price target on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Monday, May 18th. JPMorgan Chase & Co. lifted their price objective on shares of nCino from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a report on Saturday. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of nCino in a report on Wednesday, June 24th. Finally, Citigroup restated a “market outperform” rating on shares of nCino in a research report on Monday, June 22nd.

nCino Price Performance

NCNO stock opened at $20.62 on Wednesday. nCino has a fifty-two week low of $13.80 and a fifty-two week high of $33.92. 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 stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 171.83 and a beta of 0.66. The business’s fifty day moving average price is $17.66 and its two-hundred day moving average price is $16.84.

Insiders Place Their Bets

In other nCino news, CFO Gregory Orenstein sold 11,780 shares of nCino stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $226,411.60. Following the completion of the transaction, the chief financial officer directly owned 690,513 shares of the company’s stock, valued at $13,271,659.86. The trade was a 1.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sean Desmond sold 11,815 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $19.53, for a total value of $230,746.95. Following the sale, the chief executive officer owned 1,231,080 shares of the company’s stock, valued at approximately $24,042,992.40. The trade was a 0.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 83,350 shares of company stock valued at $1,568,144 in the last quarter. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in nCino in the second quarter valued at about $147,492,000. Bank of America Corp DE acquired a new stake in nCino during the second quarter worth about $84,319,000. American Capital Management Inc. acquired a new stake in nCino during the second quarter worth about $83,508,000. HMI Capital Management L.P. acquired a new stake in nCino during the second quarter worth about $81,598,000. Finally, Hawk Ridge Capital Management LP increased its holdings in nCino by 625.4% in the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after buying an additional 3,864,010 shares during the period. Institutional investors 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.