nCino’s (NCNO) “Outperform” Rating Reaffirmed at William Blair

nCino (NASDAQ:NCNOGet Free Report)‘s stock had its “outperform” rating restated by William Blair in a research report issued to clients and investors on Thursday,RTT News reports.

Other analysts have also recently issued reports about the company. Morgan Stanley boosted their price objective on nCino from $30.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday. Stephens boosted their price objective on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday. Scotiabank boosted their price objective on nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Piper Sandler reiterated a “neutral” rating and set a $38.00 price target on shares of nCino in a research report on Thursday. Finally, Truist Financial reiterated a “buy” rating and set a $44.00 price target (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and an average target price of $42.31.

Check Out Our Latest Report on nCino

nCino Price Performance

Shares of nCino stock traded down $2.89 on Thursday, reaching $39.61. The company’s stock had a trading volume of 1,139,686 shares, compared to its average volume of 1,067,084. The company has a market capitalization of $4.58 billion, a P/E ratio of -135.37, a PEG ratio of 34.42 and a beta of 0.59. nCino has a 52-week low of $28.09 and a 52-week high of $43.20. The stock has a 50-day moving average price of $37.59 and a 200-day moving average price of $33.57. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09.

Insiders Place Their Bets

In other news, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $34.77, for a total value of $1,043,100.00. Following the transaction, the insider now owns 341,511 shares of the company’s stock, valued at $11,874,337.47. This represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeff Horing sold 1,356,721 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $36.02, for a total value of $48,869,090.42. Following the completion of the transaction, the director now directly owns 14,656,746 shares in the company, valued at approximately $527,935,990.92. This trade represents a 8.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,235,029 shares of company stock valued at $117,599,204. Insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

Several hedge funds have recently bought and sold shares of NCNO. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of nCino by 8.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,782,689 shares of the company’s stock valued at $244,766,000 after acquiring an additional 635,064 shares during the last quarter. Long Path Partners LP grew its stake in nCino by 43.7% during the 3rd quarter. Long Path Partners LP now owns 3,721,406 shares of the company’s stock worth $117,559,000 after buying an additional 1,131,271 shares during the last quarter. ShawSpring Partners LLC grew its stake in nCino by 115.9% during the 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after buying an additional 1,424,349 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in nCino by 65.1% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,100,062 shares of the company’s stock worth $66,341,000 after buying an additional 828,124 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in nCino by 55.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,065,880 shares of the company’s stock worth $65,261,000 after buying an additional 736,627 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Company Profile

(Get Free Report)

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.

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Analyst Recommendations for nCino (NASDAQ:NCNO)

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