nCino Inc. (NASDAQ:NCNO) Receives $24.38 Average Target Price from Analysts

nCino Inc. (NASDAQ:NCNO) has received an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $24.3846.

NCNO has been the subject of several analyst reports. Morgan Stanley lifted their price target on shares of nCino from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, August 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of nCino in a report on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of nCino in a report on Tuesday, August 25th. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Finally, UBS Group reissued a “buy” rating on shares of nCino in a report on Wednesday, August 26th.

Insider Activity

In other nCino news, SVP Jeanette Sellers sold 1,536 shares of nCino stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total value of $29,998.08. Following the completion of the transaction, the senior vice president owned 48,453 shares in the company, valued at approximately $946,287.09. The trade was a 3.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider April Rieger sold 6,098 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $21.98, for a total value of $134,034.04. Following the completion of the transaction, the insider directly owned 369,651 shares in the company, valued at approximately $8,124,928.98. This represents a 1.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 90,138 shares of company stock worth $1,777,515. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NCNO. BlackRock Inc. bought a new position in shares of nCino in the second quarter worth about $147,492,000. Senvest Management LLC grew its stake in shares of nCino by 30.2% during the first quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock valued at $79,521,000 after purchasing an additional 1,230,192 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of nCino during the second quarter valued at approximately $84,319,000. American Capital Management Inc. acquired a new stake in shares of nCino in the second quarter valued at approximately $83,508,000. Finally, HMI Capital Management L.P. acquired a new stake in shares of nCino in the second quarter valued at approximately $81,598,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Stock Down 1.7%

Shares of NASDAQ:NCNO opened at $21.05 on Friday. nCino has a 52 week low of $13.80 and a 52 week high of $30.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The company’s fifty day moving average is $20.08 and its 200-day moving average is $17.58. The company has a market capitalization of $2.23 billion, a PE ratio of 70.17 and a beta of 0.69.

About nCino

nCino, Inc (NASDAQ: NCNO) provides cloud-based software designed to help banks, credit unions and other financial institutions manage and modernize their operations. Its platform, known as the nCino Bank Operating System, is built to streamline processes, improve collaboration and provide a unified view of customer and financial data.

The company’s products support commercial, small-business, consumer and mortgage lending, as well as account opening, deposit origination, onboarding, credit analysis, portfolio management and regulatory compliance.