nCino, Inc. (NASDAQ:NCNO) Given Average Recommendation of “Moderate Buy” by Brokerages

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

NCNO has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped 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. UBS Group initiated coverage on nCino in a research report on Monday, December 16th. They issued a “buy” rating and a $44.00 price target on the stock. Morgan Stanley lowered their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Scotiabank increased their target price on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC increased their target price on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 5th.

nCino Stock Performance

Shares of NASDAQ:NCNO opened at $33.03 on Friday. The business’s fifty day moving average price is $33.83 and its two-hundred day moving average price is $34.60. nCino has a fifty-two week low of $28.09 and a fifty-two week high of $43.20. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -194.28, a price-to-earnings-growth ratio of 6.01 and a beta of 0.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95.

Insider Activity at nCino

In other nCino news, Director Jeff Horing sold 450,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $37.27, for a total value of $16,771,500.00. Following the transaction, the director now owns 12,063,467 shares of the company’s stock, valued at approximately $449,605,415.09. This represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider April Rieger sold 4,325 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the completion of the transaction, the insider now directly owns 145,953 shares in the company, valued at $4,758,067.80. The trade was a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,270,085 shares of company stock worth $225,838,863 over the last 90 days. Insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp acquired a new stake in shares of nCino during the fourth quarter worth about $34,000. Hilltop National Bank acquired a new stake in shares of nCino during the fourth quarter worth about $37,000. Johnson Financial Group Inc. acquired a new stake in shares of nCino during the fourth quarter worth about $57,000. Asset Management One Co. Ltd. raised its position in shares of nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after purchasing an additional 341 shares during the period. Finally, West Tower Group LLC acquired a new stake in shares of nCino during the third quarter worth about $126,000. Institutional investors and hedge funds 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.