nCino Inc. (NASDAQ:NCNO) Receives $25.29 Average Target Price from Analysts

nCino Inc. (NASDAQ:NCNO) has been given a consensus recommendation of “Moderate Buy” by the nineteen research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $25.2857.

Several research firms recently weighed in on NCNO. Wall Street Zen upgraded nCino from a “hold” rating to a “buy” rating in a research note on Saturday. Needham & Company LLC restated a “buy” rating and set a $25.00 price objective on shares of nCino in a research report on Thursday, May 28th. Citigroup restated a “market outperform” rating on shares of nCino in a report on Monday, June 22nd. Citizens Jmp dropped their target price on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, May 18th. Finally, The Goldman Sachs Group cut their price target on shares of nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th.

nCino Price Performance

Shares of NCNO opened at $20.62 on Wednesday. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 171.83 and a beta of 0.66. The firm’s fifty day simple moving average is $17.66 and its 200-day simple moving average is $16.87. nCino has a twelve month low of $13.80 and a twelve month high of $33.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling at nCino

In other news, CFO Gregory Orenstein sold 11,780 shares of nCino stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total transaction of $226,411.60. Following the sale, the chief financial officer owned 690,513 shares in the company, valued at approximately $13,271,659.86. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 4,677 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $89,891.94. Following the completion of the sale, the director directly owned 1,116,707 shares of the company’s stock, valued at approximately $21,463,108.54. This trade represents a 0.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 83,350 shares of company stock valued at $1,568,144. 1.90% of the stock is owned by insiders.

Institutional Trading of nCino

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in nCino in the 2nd quarter valued at about $147,492,000. Bank of America Corp DE acquired a new position in shares of nCino in the second quarter valued at approximately $84,319,000. American Capital Management Inc. purchased a new stake in shares of nCino during the second quarter worth approximately $83,508,000. HMI Capital Management L.P. purchased a new stake in shares of nCino during the second quarter worth approximately $81,598,000. Finally, Hawk Ridge Capital Management LP lifted its holdings in shares of nCino by 625.4% during the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock worth $67,138,000 after purchasing an additional 3,864,010 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

nCino Company Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.