nCino Inc. (NASDAQ:NCNO) Receives $25.29 Consensus Price Target from Analysts

nCino Inc. (NASDAQ:NCNO) has received an average recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $25.2857.

NCNO has been the subject of a number of research analyst reports. Wall Street Zen raised shares of nCino from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Weiss Ratings raised nCino from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Citigroup restated a “market outperform” rating on shares of nCino in a research note on Monday, June 22nd. Barclays raised their price objective on nCino from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Finally, Truist Financial decreased their price objective on nCino from $27.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st.

nCino Price Performance

NASDAQ:NCNO opened at $17.75 on Tuesday. The stock has a market cap of $1.94 billion, a P/E ratio of 147.92 and a beta of 0.68. nCino has a one year low of $13.80 and a one year high of $33.92. The company has a fifty day moving average price of $15.97 and a 200 day moving average price of $18.37. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.89 and a quick ratio of 0.89.

Insider Transactions at nCino

In other nCino news, SVP Jeanette Sellers sold 3,695 shares of nCino stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $18.04, for a total transaction of $66,657.80. Following the sale, the senior vice president owned 50,876 shares in the company, valued at $917,803.04. The trade was a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Pierre Naude sold 35,650 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $18.02, for a total transaction of $642,413.00. Following the completion of the sale, the director directly owned 1,108,473 shares in the company, valued at $19,974,683.46. This trade represents a 3.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 129,213 shares of company stock valued at $2,298,929 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of nCino

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Senvest Management LLC raised its position in nCino by 30.2% in the first quarter. Senvest Management LLC now owns 5,308,468 shares of the company’s stock worth $79,521,000 after purchasing an additional 1,230,192 shares in the last quarter. Hawk Ridge Capital Management LP boosted its holdings in nCino by 625.4% during the first quarter. Hawk Ridge Capital Management LP now owns 4,481,810 shares of the company’s stock valued at $67,138,000 after purchasing an additional 3,864,010 shares in the last quarter. Spyglass Capital Management LLC grew its stake in shares of nCino by 6.0% in the 1st quarter. Spyglass Capital Management LLC now owns 3,085,237 shares of the company’s stock valued at $46,217,000 after purchasing an additional 175,357 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of nCino by 25.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,861,024 shares of the company’s stock valued at $73,357,000 after purchasing an additional 585,786 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of nCino by 475.1% in the 3rd quarter. Bank of America Corp DE now owns 2,513,686 shares of the company’s stock worth $68,146,000 after buying an additional 2,076,579 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.