nCino (NASDAQ:NCNO) Price Target Lowered to $42.00 at Raymond James

nCino (NASDAQ:NCNO) had its price objective reduced by Raymond James from $44.00 to $42.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective would suggest a potential upside of 44.93% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC increased their price target on shares of nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods raised their price target on nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Piper Sandler restated a “neutral” rating and issued a $38.00 price target on shares of nCino in a research report on Thursday, December 5th. Scotiabank increased their price objective on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Finally, Robert W. Baird dropped their target price on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.79.

nCino Price Performance

NCNO stock opened at $28.98 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $3.36 billion, a P/E ratio of -170.46, a PEG ratio of 5.77 and a beta of 0.66. The business has a 50 day simple moving average of $31.73 and a 200-day simple moving average of $34.22. nCino has a twelve month low of $27.29 and a twelve month high of $43.20.

Insider Buying and Selling

In related news, CFO Gregory Orenstein sold 5,148 shares of nCino stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $167,824.80. Following the completion of the transaction, the chief financial officer now directly owns 271,744 shares of the company’s stock, valued at approximately $8,858,854.40. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeff Horing sold 54,876 shares of the business’s stock in a transaction on Monday, January 6th. The stock was 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 approximately $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,877 shares of company stock valued at $2,963,893. Corporate insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NCNO. Franklin Resources Inc. increased its holdings in nCino by 46.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after acquiring an additional 344,269 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of nCino during the 3rd quarter worth approximately $689,000. Verition Fund Management LLC purchased a new stake in nCino in the 3rd quarter valued at approximately $594,000. Charles Schwab Investment Management Inc. grew its holdings in nCino by 51.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock valued at $17,588,000 after buying an additional 189,283 shares during the last quarter. Finally, Commerce Bank purchased a new position in nCino during the third quarter worth $575,000. Institutional investors and hedge funds 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.