Stephens Reiterates “Equal Weight” Rating for nCino (NASDAQ:NCNO)

nCino (NASDAQ:NCNO)‘s stock had its “equal weight” rating reiterated by research analysts at Stephens in a report issued on Thursday,Benzinga reports. They presently have a $38.00 target price on the stock. Stephens’ price target points to a potential upside of 31.97% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods lifted their price target on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Morgan Stanley reduced their price target on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, December 6th. UBS Group began coverage on shares of nCino in a research report on Monday, December 16th. They set a “buy” rating and a $44.00 price target on the stock. Robert W. Baird reduced their price target on shares of nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price target on shares of nCino in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

nCino Price Performance

NCNO opened at $28.80 on Thursday. The company’s 50 day simple moving average is $31.99 and its 200 day simple moving average is $34.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. nCino has a 1 year low of $27.29 and a 1 year high of $43.20. The stock has a market capitalization of $3.33 billion, a PE ratio of -169.37, a P/E/G ratio of 5.77 and a beta of 0.66.

Insider Buying and Selling

In other nCino news, CEO Sean Desmond sold 5,034 shares of the company’s stock in a transaction dated 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 directly owns 306,477 shares of the company’s stock, valued at approximately $9,991,150.20. This represents a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeff Horing sold 54,876 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the sale, the director now directly owns 4,458,591 shares of the company’s stock, valued at $156,050,685. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,877 shares of company stock valued at $2,963,893 over the last 90 days. 28.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On nCino

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its holdings in nCino by 46.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after acquiring an additional 344,269 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in nCino in the 3rd quarter valued at about $689,000. Verition Fund Management LLC acquired a new stake in nCino in the 3rd quarter valued at about $594,000. Charles Schwab Investment Management Inc. lifted its holdings in nCino by 51.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock valued at $17,588,000 after acquiring an additional 189,283 shares during the last quarter. Finally, Commerce Bank acquired a new stake in nCino in the 3rd quarter valued at about $575,000. 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.