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

Shares of nCino Inc. (NASDAQ:NCNO) have been given an average recommendation of “Moderate Buy” by the nineteen research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $25.2857.

NCNO has been the topic of a number of research reports. Zacks Research cut shares of nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Wall Street Zen upgraded shares of nCino from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. JPMorgan Chase & Co. upped their price target on shares of nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. The Goldman Sachs Group lowered their price target on shares of nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Finally, Citigroup reissued a “market outperform” rating on shares of nCino in a research note on Monday, June 22nd.

nCino Trading Up 0.4%

Shares of NCNO stock opened at $18.46 on Friday. The stock has a market cap of $2.02 billion, a P/E ratio of 153.83 and a beta of 0.68. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. nCino has a fifty-two week low of $13.80 and a fifty-two week high of $33.92. The business has a fifty day simple moving average of $16.41 and a 200-day simple moving average of $17.28.

Insider Activity

In other nCino news, Director Pierre Naude sold 35,650 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $18.02, for a total transaction of $642,413.00. Following the completion of the transaction, the director owned 1,108,473 shares of the company’s stock, valued at approximately $19,974,683.46. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 14,650 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $18.02, for a total value of $263,993.00. Following the transaction, the chief financial officer directly owned 702,293 shares of the company’s stock, valued at $12,655,319.86. The trade was a 2.04% 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 have sold 119,964 shares of company stock worth $2,143,529 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of nCino

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