Brokerages Set nCino Inc. (NASDAQ:NCNO) PT at $24.38

Shares of nCino Inc. (NASDAQ:NCNO) have received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $24.3846.

A number of research analysts have commented on the stock. Truist Financial raised their price target on shares of nCino from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, August 26th. Morgan Stanley increased their target price on nCino from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, August 26th. Piper Sandler assumed coverage on nCino in a research report on Monday, August 24th. They set an “overweight” rating and a $25.00 target price for the company. Wall Street Zen upgraded nCino from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th.

Insider Activity at nCino

In other news, SVP Jeanette Sellers sold 1,536 shares of the business’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 $29,998.08. Following the sale, the senior vice president owned 48,453 shares in the company, valued at approximately $946,287.09. The trade was a 3.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, insider April Rieger sold 7,852 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $150,915.44. Following the completion of the sale, the insider owned 375,749 shares in the company, valued at $7,221,895.78. This represents a 2.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 90,138 shares of company stock valued at $1,777,515. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On nCino

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its holdings in shares of nCino by 7,370.4% during the second quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after buying an additional 1,990 shares in the last quarter. Optiver Holding B.V. acquired a new position in shares of nCino in the 1st quarter worth approximately $32,000. Versant Capital Management Inc boosted its holdings in shares of nCino by 664.9% in the 2nd quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock worth $40,000 after acquiring an additional 2,101 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in nCino by 5,250.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the company’s stock worth $50,000 after acquiring an additional 3,255 shares during the last quarter. Finally, Essential Partners LLC grew its position in nCino by 9,400.0% during the 1st quarter. Essential Partners LLC now owns 3,800 shares of the company’s stock worth $57,000 after acquiring an additional 3,760 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

nCino Price Performance

Shares of nCino stock opened at $21.41 on Friday. The firm has a market cap of $2.26 billion, a P/E ratio of 71.37 and a beta of 0.69. The firm’s 50-day simple moving average is $20.00 and its 200-day simple moving average is $17.56. nCino has a twelve month low of $13.80 and a twelve month high of $31.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85.

About nCino

nCino, Inc (NASDAQ: NCNO) provides cloud-based software designed to help banks, credit unions and other financial institutions manage and modernize their operations. Its platform, known as the nCino Bank Operating System, is built to streamline processes, improve collaboration and provide a unified view of customer and financial data.

The company’s products support commercial, small-business, consumer and mortgage lending, as well as account opening, deposit origination, onboarding, credit analysis, portfolio management and regulatory compliance.