nCino, Inc. (NASDAQ:NCNO) Receives Consensus Rating of “Moderate Buy” from Brokerages

nCino, Inc. (NASDAQ:NCNO) has earned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $42.50.

A number of brokerages have recently issued reports on NCNO. Macquarie increased their target price on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Stephens raised their price objective on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Robert W. Baird dropped their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, December 5th. UBS Group started coverage on nCino in a report on Monday, December 16th. They set a “buy” rating and a $44.00 target price on the stock. Finally, KeyCorp reiterated a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd.

Insider Buying and Selling

In other nCino news, CEO Sean Desmond sold 5,034 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $164,108.40. Following the completion of the transaction, the chief executive officer now owns 306,477 shares in the company, valued at $9,991,150.20. This represents a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider April Rieger sold 4,325 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $140,995.00. Following the completion of the transaction, the insider now owns 145,953 shares of the company’s stock, valued at approximately $4,758,067.80. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,561,035 shares of company stock valued at $162,915,041. 28.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On nCino

Institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. boosted its stake in shares of nCino by 46.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after buying an additional 344,269 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in nCino during the third quarter worth $689,000. Verition Fund Management LLC bought a new position in nCino during the third quarter worth $594,000. Charles Schwab Investment Management Inc. lifted its stake in nCino by 51.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock worth $17,588,000 after purchasing an additional 189,283 shares during the last quarter. Finally, Commerce Bank bought a new position in nCino during the third quarter worth $575,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

nCino Stock Performance

Shares of NCNO stock opened at $28.34 on Wednesday. The company has a market cap of $3.28 billion, a price-to-earnings ratio of -166.70, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. The stock has a 50 day simple moving average of $32.29 and a 200-day simple moving average of $34.28. nCino has a 12-month low of $27.29 and a 12-month high of $43.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

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.