nCino (NASDAQ:NCNO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of nCino (NASDAQ:NCNO) from a hold rating to a buy rating in a report published on Saturday.

Several other analysts have also issued reports on NCNO. Keefe, Bruyette & Woods restated an “outperform” rating on shares of nCino in a research note on Wednesday, June 24th. JPMorgan Chase & Co. increased their price target on nCino from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Zacks Research lowered nCino from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. The Goldman Sachs Group lowered their price objective on nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Finally, Citizens Jmp dropped their price objective on shares of nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, nCino presently has an average rating of “Moderate Buy” and a consensus target price of $25.50.

nCino Price Performance

nCino stock opened at $20.95 on Friday. The business’s 50 day simple moving average is $17.78 and its 200 day simple moving average is $16.85. nCino has a 12 month low of $13.80 and a 12 month high of $33.92. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 174.58 and a beta of 0.66. 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, Director Pierre Naude sold 4,677 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total value of $89,891.94. Following the completion of the transaction, the director directly owned 1,116,707 shares of the company’s stock, valued at $21,463,108.54. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider April Rieger sold 7,852 shares of nCino stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $150,915.44. Following the completion of the transaction, the insider owned 375,749 shares of the company’s stock, valued at approximately $7,221,895.78. This trade represents a 2.05% 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. Over the last three months, insiders have sold 83,350 shares of company stock worth $1,568,144. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Hawk Ridge Capital Management LP increased its stake in nCino by 625.4% in the 1st quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock worth $67,138,000 after acquiring an additional 3,864,010 shares during the last quarter. Algebris UK Ltd. boosted its position in shares of nCino by 266.2% during the 4th quarter. Algebris UK Ltd. now owns 1,032,782 shares of the company’s stock valued at $26,493,000 after acquiring an additional 750,744 shares during the last quarter. American Capital Management Inc. grew its holdings in shares of nCino by 17.1% during the first quarter. American Capital Management Inc. now owns 2,375,396 shares of the company’s stock worth $35,583,000 after purchasing an additional 347,587 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of nCino during the fourth quarter worth about $3,982,000. Finally, Spyglass Capital Management LLC grew its holdings in shares of nCino by 6.0% during the first quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company’s stock worth $46,217,000 after purchasing an additional 175,357 shares in the last quarter. 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.