nCino (NASDAQ:NCNO) Price Target Raised to $25.00

nCino (NASDAQ:NCNO) had its price objective lifted by Citizens Jmp from $23.00 to $25.00 in a research report report published on Wednesday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

NCNO has been the topic of several other reports. JPMorgan Chase & Co. upped their target price on nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Keefe, Bruyette & Woods restated an “outperform” rating on shares of nCino in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Citigroup restated a “market outperform” rating on shares of nCino in a research report on Wednesday. Finally, Barclays upped their price objective on shares of nCino from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, nCino has an average rating of “Moderate Buy” and a consensus price target of $24.38.

nCino Trading Down 1.4%

Shares of NCNO stock opened at $22.99 on Wednesday. nCino has a 1-year low of $13.80 and a 1-year high of $32.53. The company has a current ratio of 0.85, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 76.63 and a beta of 0.66. The stock has a 50-day moving average of $18.35 and a 200-day moving average of $16.97.

Insider Activity at nCino

In other nCino news, SVP Jeanette Sellers sold 1,536 shares of nCino stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $19.53, for a total value of $29,998.08. Following the completion of the sale, the senior vice president directly owned 48,453 shares in the company, valued at approximately $946,287.09. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 11,780 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $226,411.60. Following the completion of the transaction, the chief financial officer directly owned 690,513 shares in the company, valued at approximately $13,271,659.86. This trade represents a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 83,350 shares of company stock worth $1,568,144 over the last quarter. 1.90% of the stock is owned by company insiders.

Institutional Trading of nCino

Several hedge funds have recently modified their holdings of NCNO. CWM LLC increased its stake in shares of nCino by 255.8% in the 4th quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares in the last quarter. Optiver Holding B.V. bought a new position in nCino during the first quarter worth $32,000. Los Angeles Capital Management LLC bought a new position in nCino during the fourth quarter worth $38,000. Versant Capital Management Inc grew its holdings in nCino by 664.9% in the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock worth $40,000 after purchasing an additional 2,101 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in nCino by 76.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after purchasing an additional 722 shares during the period. Institutional investors own 94.76% of the company’s stock.

About nCino

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.