Scotiabank Lowers nCino (NASDAQ:NCNO) Price Target to $35.00

nCino (NASDAQ:NCNO) had its price target dropped by investment analysts at Scotiabank from $42.00 to $35.00 in a report released on Thursday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 18.13% from the company’s previous close.

A number of other equities analysts have also commented on NCNO. Needham & Company LLC boosted their price objective on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. KeyCorp reissued a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. Robert W. Baird dropped their target price on shares of nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, December 5th. Barclays raised shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price target on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley decreased their price objective on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, nCino has an average rating of “Moderate Buy” and a consensus price target of $42.00.

nCino Price Performance

nCino stock traded down $0.10 during trading hours on Thursday, hitting $29.63. 99,879 shares of the stock were exchanged, compared to its average volume of 1,145,408. The stock has a market capitalization of $3.43 billion, a P/E ratio of -174.40, a P/E/G ratio of 5.77 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino has a 12 month low of $27.29 and a 12 month high of $43.20. The business’s 50-day moving average is $31.59 and its two-hundred day moving average is $34.19.

Insider Buying and Selling at nCino

In related news, CEO Sean Desmond sold 5,034 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the transaction, the chief executive officer now directly owns 306,477 shares in the company, valued at approximately $9,991,150.20. The trade was a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider April Rieger sold 4,325 shares of the business’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 transaction, the insider now directly owns 145,953 shares in the company, valued at approximately $4,758,067.80. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,877 shares of company stock worth $2,963,893. Corporate insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NCNO. Asset Management One Co. Ltd. grew its position in shares of nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after purchasing an additional 323 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of nCino by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock valued at $407,000 after acquiring an additional 340 shares during the period. Berry Wealth Group LP raised its stake in nCino by 5.1% in the 4th quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock worth $276,000 after purchasing an additional 400 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in nCino by 2.2% in the 4th quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock valued at $772,000 after purchasing an additional 500 shares during the period. Finally, Sterling Capital Management LLC grew its position in shares of nCino by 1.2% during the 4th quarter. Sterling Capital Management LLC now owns 48,945 shares of the company’s stock worth $1,644,000 after purchasing an additional 583 shares in the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.