nCino (NASDAQ:NCNO) Given New $43.00 Price Target at Macquarie

nCino (NASDAQ:NCNO) had its price objective boosted by stock analysts at Macquarie from $40.00 to $43.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Macquarie’s target price would indicate a potential upside of 15.65% from the company’s previous close.

A number of other research firms have also recently issued reports on NCNO. Keefe, Bruyette & Woods increased their target price on nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday. Robert W. Baird lowered their price objective on shares of nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday. JMP Securities restated a “market outperform” rating and set a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Stephens increased their price objective on shares of nCino from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Truist Financial reaffirmed a “buy” rating and issued a $44.00 target price (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.38.

nCino Stock Down 0.3 %

NCNO stock traded down $0.10 during mid-day trading on Friday, hitting $37.18. 626,559 shares of the company were exchanged, compared to its average volume of 1,082,532. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. nCino has a 1-year low of $28.09 and a 1-year high of $43.20. The firm’s 50 day simple moving average is $37.72 and its 200 day simple moving average is $33.60. The firm has a market cap of $4.30 billion, a P/E ratio of -137.70, a P/E/G ratio of 34.42 and a beta of 0.59.

Insider Buying and Selling

In related news, Director Jeff Horing sold 1,833,975 shares of nCino stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $36.62, for a total transaction of $67,160,164.50. Following the sale, the director now directly owns 12,513,467 shares of the company’s stock, valued at approximately $458,243,161.54. The trade was a 12.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William J. Ruh sold 10,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the sale, the director now owns 226,201 shares in the company, valued at $8,482,537.50. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,235,029 shares of company stock valued at $117,599,204. 28.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On nCino

Several hedge funds have recently added to or reduced their stakes in NCNO. Crewe Advisors LLC acquired a new position in shares of nCino during the second quarter worth $26,000. Asset Management One Co. Ltd. lifted its holdings in nCino by 21.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after buying an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of nCino by 97.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock valued at $87,000 after buying an additional 1,358 shares during the last quarter. West Tower Group LLC acquired a new stake in shares of nCino in the third quarter valued at about $126,000. Finally, Northwest & Ethical Investments L.P. bought a new position in shares of nCino during the third quarter worth about $152,000. 94.76% of the stock is currently 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.