nCino, Inc. (NASDAQ:NCNO) Receives $42.50 Consensus Target Price from Brokerages

nCino, Inc. (NASDAQ:NCNO) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $42.50.

A number of equities research analysts recently weighed in on NCNO shares. Scotiabank raised their target price on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Macquarie raised their price objective on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC lifted their price objective on shares of nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods raised their price target on nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, Barclays upgraded nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a report on Monday, January 6th.

nCino Price Performance

Shares of NASDAQ NCNO opened at $32.51 on Tuesday. The stock’s 50-day simple moving average is $36.35 and its two-hundred day simple moving average is $34.41. nCino has a twelve month low of $28.09 and a twelve month high of $43.20. The firm has a market capitalization of $3.76 billion, a P/E ratio of -191.22, a P/E/G ratio of 12.70 and a beta of 0.64. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

Insider Buying and Selling at nCino

In related news, Director Jeff Horing sold 54,876 shares of nCino stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.00, for a total value of $1,920,660.00. Following the sale, the director now owns 4,458,591 shares in the company, valued at $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 6,238,084 shares of company stock valued at $224,795,630 in the last 90 days. Insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. ShawSpring Partners LLC boosted its stake in nCino by 115.9% during the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after acquiring an additional 1,424,349 shares in the last quarter. Senator Investment Group LP bought a new stake in shares of nCino in the 2nd quarter worth approximately $40,885,000. Millennium Management LLC grew its stake in shares of nCino by 438.3% in the 2nd quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock worth $45,673,000 after buying an additional 1,182,452 shares during the last quarter. Long Path Partners LP increased its position in nCino by 43.7% during the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock valued at $117,559,000 after buying an additional 1,131,271 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in nCino by 65.1% during the third quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock valued at $66,341,000 after buying an additional 828,124 shares during the last quarter. Institutional investors 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 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.