nCino, Inc. (NASDAQ:NCNO) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of nCino, Inc. (NASDAQ:NCNO) have earned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $42.50.

Several equities analysts recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price objective on shares of nCino in a research report on Thursday, December 5th. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of nCino in a research report on Thursday, December 5th. Needham & Company LLC raised their price objective on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, Scotiabank raised their price objective on shares of nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th.

nCino Price Performance

NASDAQ NCNO opened at $28.51 on Wednesday. The company has a 50 day simple moving average of $32.08 and a 200-day simple moving average of $34.26. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -167.70, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66. nCino has a 52-week low of $27.29 and a 52-week high of $43.20.

Insider Activity at nCino

In other news, Director Jeff Horing sold 54,876 shares of nCino stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the transaction, the director now directly owns 4,458,591 shares in the company, valued at approximately $156,050,685. The trade was a 1.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sean Desmond sold 5,034 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $164,108.40. Following the completion of the sale, the chief executive officer now owns 306,477 shares of the company’s stock, valued at $9,991,150.20. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,877 shares of company stock valued at $2,963,893. 28.40% of the stock is owned by insiders.

Hedge Funds Weigh In On nCino

A number of institutional investors have recently modified their holdings of NCNO. California State Teachers Retirement System boosted its position in shares of nCino by 5.4% during the 4th quarter. California State Teachers Retirement System now owns 85,835 shares of the company’s stock valued at $2,882,000 after purchasing an additional 4,417 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in nCino during the 4th quarter worth approximately $227,000. Public Employees Retirement System of Ohio raised its stake in shares of nCino by 30.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 160,216 shares of the company’s stock worth $5,380,000 after purchasing an additional 37,260 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of nCino by 67.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 242,090 shares of the company’s stock worth $8,129,000 after purchasing an additional 97,333 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of nCino in the fourth quarter worth approximately $216,000. 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.