nCino (NASDAQ:NCNO) Price Target Raised to $41.00

nCino (NASDAQ:NCNO) had its price target raised by Morgan Stanley from $30.00 to $41.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also recently issued reports on NCNO. William Blair restated an “outperform” rating on shares of nCino in a report on Wednesday, August 28th. Macquarie reaffirmed an “outperform” rating and issued a $40.00 price target on shares of nCino in a research note on Wednesday, October 23rd. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research note on Tuesday, September 3rd. Truist Financial reaffirmed a “buy” rating and issued a $44.00 price target (up previously from $37.00) on shares of nCino in a research note on Monday, October 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 price target on shares of nCino in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, nCino has an average rating of “Moderate Buy” and a consensus price target of $41.23.

nCino Trading Up 2.4 %

Shares of NCNO stock opened at $42.50 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $4.91 billion, a price-to-earnings ratio of -157.29, a PEG ratio of 34.46 and a beta of 0.59. The stock has a 50 day simple moving average of $37.34 and a 200-day simple moving average of $33.51. nCino has a 1-year low of $28.09 and a 1-year high of $43.20.

Insider Activity at nCino

In related news, Director William J. Ruh sold 10,000 shares of nCino stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $37.50, for a total transaction of $375,000.00. Following the sale, the director now directly owns 226,201 shares of the company’s stock, valued at $8,482,537.50. This trade represents 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 through this hyperlink. Also, Director Jeff Horing sold 1,833,975 shares of nCino stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the sale, the director now directly owns 12,513,467 shares in the company, valued at approximately $458,243,161.54. This trade represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,235,029 shares of company stock valued at $117,599,204. Insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

A number of institutional investors have recently added to or reduced their stakes in NCNO. Long Path Partners LP boosted its holdings in nCino by 151.1% during the second quarter. Long Path Partners LP now owns 2,590,135 shares of the company’s stock valued at $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 3rd quarter. ShawSpring Partners LLC now owns 2,653,687 shares of the company’s stock valued at $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 2nd quarter valued at $41,805,000. Senator Investment Group LP bought a new stake in shares of nCino in the 2nd quarter valued at $40,885,000. Finally, Millennium Management LLC increased its position in shares of nCino by 438.3% in the 2nd quarter. Millennium Management LLC now owns 1,452,242 shares of the company’s stock valued at $45,673,000 after buying an additional 1,182,452 shares in the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

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.