nCino (NASDAQ:NCNO) Price Target Lowered to $42.00 at Robert W. Baird

nCino (NASDAQ:NCNO) had its price target lowered by equities researchers at Robert W. Baird from $43.00 to $42.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price indicates a potential downside of 1.18% from the stock’s previous close.

NCNO has been the subject of a number of other reports. Stephens increased their price target on shares of nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday. Scotiabank increased their price target on shares of nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. Piper Sandler reissued a “neutral” rating and issued a $38.00 price target on shares of nCino in a research report on Thursday. Morgan Stanley increased their price target on shares of nCino from $30.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Macquarie reaffirmed an “outperform” rating and set a $40.00 price objective on shares of nCino in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.31.

nCino Stock Performance

Shares of NCNO opened at $42.50 on Thursday. nCino has a one year low of $28.09 and a one year high of $43.20. The company has a 50-day moving average of $37.34 and a two-hundred day moving average of $33.51. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of -157.40, a PEG ratio of 34.42 and a beta of 0.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08.

Insider Activity

In other nCino news, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction on Monday, October 21st. The shares were sold at an average price of $37.50, for a total transaction of $375,000.00. Following the sale, the director now owns 226,201 shares in the company, valued at $8,482,537.50. The trade was a 4.23 % 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. Also, Director Jeff Horing sold 1,833,975 shares of nCino stock in a transaction on Friday, October 18th. The stock was sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the sale, the director now owns 12,513,467 shares in the company, valued at $458,243,161.54. This represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,235,029 shares of company stock valued at $117,599,204 over the last 90 days. 28.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On nCino

A number of institutional investors and hedge funds have recently bought and sold shares of NCNO. Long Path Partners LP boosted its stake in nCino by 151.1% in the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock worth $81,460,000 after purchasing an additional 1,558,529 shares in the last quarter. ShawSpring Partners LLC raised its position in shares of nCino by 115.9% during the third quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock worth $83,830,000 after acquiring an additional 1,424,349 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of nCino during the second quarter worth $41,805,000. Senator Investment Group LP bought a new stake in shares of nCino during the second quarter worth $40,885,000. Finally, Millennium Management LLC raised its position in shares of nCino by 438.3% during the second quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock worth $45,673,000 after acquiring an additional 1,182,452 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

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.