nCino (NASDAQ:NCNO) Given New $39.00 Price Target at Morgan Stanley

nCino (NASDAQ:NCNO) had its price target reduced by research analysts at Morgan Stanley from $41.00 to $39.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 4.61% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Barclays increased their price target on shares of nCino from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, November 25th. Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods raised their target price on nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday. Macquarie reaffirmed an “outperform” rating and set a $40.00 price target on shares of nCino in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC increased their price target on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, nCino presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.15.

nCino Stock Down 12.3 %

Shares of NASDAQ:NCNO opened at $37.28 on Friday. nCino has a 1 year low of $28.09 and a 1 year high of $43.20. The company has a market capitalization of $4.31 billion, a PE ratio of -138.07, a price-to-earnings-growth ratio of 34.42 and a beta of 0.59. The business has a fifty day moving average price of $37.59 and a two-hundred day moving average price 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 related 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 transaction of $136,169.25. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean Desmond sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the sale, the insider now directly owns 341,511 shares in the company, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,235,029 shares of company stock valued at $117,599,204. Corporate insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

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

nCino Company Profile

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.