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

Shares of nCino, Inc. (NASDAQ:NCNO) have received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $39.25.

Several research firms have commented on NCNO. Truist Financial reaffirmed a “buy” rating and set a $44.00 price objective (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Macquarie reiterated an “outperform” rating and set a $40.00 price target on shares of nCino in a report on Wednesday, October 23rd. The Goldman Sachs Group raised shares of nCino from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $42.00 in a research note on Wednesday, August 14th. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research note on Tuesday, September 3rd. Finally, William Blair reiterated an “outperform” rating on shares of nCino in a report on Wednesday, August 28th.

nCino Price Performance

Shares of nCino stock opened at $41.99 on Monday. The stock has a 50 day moving average price of $36.90 and a 200-day moving average price of $33.37. nCino has a one year low of $27.47 and a one year high of $43.20. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of -155.52, a price-to-earnings-growth ratio of 34.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08.

Insider Buying and Selling at nCino

In other nCino news, insider Sean Desmond sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the transaction, the insider now owns 341,511 shares of the company’s stock, valued at approximately $11,874,337.47. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeff Horing sold 1,356,721 shares of nCino stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $36.02, for a total transaction of $48,869,090.42. Following the transaction, the director now directly owns 14,656,746 shares in the company, valued at approximately $527,935,990.92. The trade was a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,235,029 shares of company stock valued at $117,599,204 in the last ninety days. Corporate insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

A number of institutional investors have recently added to or reduced their stakes in NCNO. Franklin Resources Inc. raised its holdings in nCino by 46.0% in the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after purchasing an additional 344,269 shares in the last quarter. Synovus Financial Corp purchased a new position in shares of nCino in the 3rd quarter worth approximately $656,000. Sanctuary Advisors LLC bought a new position in shares of nCino during the 3rd quarter worth approximately $189,000. Geode Capital Management LLC lifted its position in nCino by 26.1% during the third quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company’s stock valued at $47,951,000 after acquiring an additional 313,637 shares during the last quarter. Finally, Bullseye Asset Management LLC lifted its position in nCino by 58.5% during the third quarter. Bullseye Asset Management LLC now owns 140,878 shares of the company’s stock valued at $4,451,000 after acquiring an additional 52,000 shares during the last quarter. 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.