Keefe, Bruyette & Woods Issues Pessimistic Forecast for nCino (NASDAQ:NCNO) Stock Price

nCino (NASDAQ:NCNO) had its price target decreased by Keefe, Bruyette & Woods from $44.00 to $40.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 35.64% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Barclays raised shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 target price for the company in a report on Monday, January 6th. KeyCorp reissued a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. Macquarie raised their target price on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Morgan Stanley reduced their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. Finally, William Blair restated an “outperform” rating on shares of nCino in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.36.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $29.49 on Friday. nCino has a twelve month low of $27.29 and a twelve month high of $43.20. 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 cap of $3.41 billion, a PE ratio of -173.46, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. The company’s 50 day moving average is $31.52 and its 200 day moving average is $34.15.

Insider Buying and Selling at nCino

In other nCino news, Director Jeff Horing sold 54,876 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the sale, the director now directly owns 4,458,591 shares in the company, valued at approximately $156,050,685. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider April Rieger sold 4,325 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the transaction, the insider now directly owns 145,953 shares of the company’s stock, 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 86,877 shares of company stock valued at $2,963,893 over the last ninety days. Corporate insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Several large investors have recently made changes to their positions in NCNO. Vanguard Group Inc. lifted its holdings in nCino by 9.6% in the 4th quarter. Vanguard Group Inc. now owns 10,830,773 shares of the company’s stock valued at $363,697,000 after purchasing an additional 948,282 shares in the last quarter. Wasatch Advisors LP raised its position in shares of nCino by 171.9% in the fourth quarter. Wasatch Advisors LP now owns 6,177,783 shares of the company’s stock valued at $207,450,000 after buying an additional 3,905,802 shares during the last quarter. Capital International Investors lifted its stake in shares of nCino by 57.4% in the fourth quarter. Capital International Investors now owns 4,691,204 shares of the company’s stock worth $157,531,000 after buying an additional 1,710,893 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in nCino by 139.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,241,017 shares of the company’s stock valued at $108,834,000 after acquiring an additional 1,889,283 shares in the last quarter. Finally, Soma Equity Partners LP raised its holdings in nCino by 5.7% in the 4th quarter. Soma Equity Partners LP now owns 2,917,681 shares of the company’s stock valued at $97,976,000 after acquiring an additional 156,238 shares during the last quarter. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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.