Stephens Raises nCino (NASDAQ:NCNO) Price Target to $38.00

nCino (NASDAQ:NCNO) had its price target hoisted by Stephens from $35.00 to $38.00 in a research note published on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently weighed in on NCNO. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a report on Tuesday, September 3rd. Morgan Stanley lifted their target price on shares of nCino from $30.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday. Needham & Company LLC decreased their price objective on nCino from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. Barclays lifted their target price on shares of nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, November 25th. Finally, Truist Financial reissued a “buy” rating and set a $44.00 price objective (up from $37.00) on shares of nCino in a research report on Monday, October 21st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, nCino currently has a consensus rating of “Moderate Buy” and an average price target of $42.31.

nCino Stock Down 12.3 %

Shares of NCNO opened at $37.28 on Thursday. nCino has a 1 year low of $28.09 and a 1 year high of $43.20. The firm has a market cap of $4.31 billion, a P/E ratio of -138.07, a P/E/G ratio of 34.42 and a beta of 0.59. The stock has a 50 day simple moving average of $37.59 and a two-hundred day simple moving average of $33.57. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08.

Insider Activity at nCino

In other news, CFO Gregory Orenstein sold 3,885 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the transaction, the chief financial officer now directly owns 276,892 shares in the company, valued at $9,705,064.60. The trade was a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean Desmond sold 30,000 shares of the stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,235,029 shares of company stock worth $117,599,204. 28.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crewe Advisors LLC bought a new position in nCino during the second quarter valued at approximately $26,000. Asset Management One Co. Ltd. boosted its stake in shares of nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock valued at $62,000 after purchasing an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after acquiring an additional 1,358 shares in the last quarter. West Tower Group LLC bought a new position in nCino in the third quarter worth approximately $126,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of nCino during the third quarter valued at $152,000. 94.76% of the stock is currently owned by institutional investors.

About nCino

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.