nCino (NASDAQ:NCNO) Now Covered by Analysts at UBS Group

Investment analysts at UBS Group initiated coverage on shares of nCino (NASDAQ:NCNO) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $44.00 price target on the stock. UBS Group’s target price would suggest a potential upside of 21.55% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lifted their target price on shares of nCino from $41.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Robert W. Baird cut 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, December 5th. 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 stock a “buy” rating in a research report on Thursday, December 5th. Finally, Scotiabank boosted their price target on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

nCino Stock Performance

Shares of NASDAQ:NCNO traded up $0.74 on Monday, reaching $36.20. 165,588 shares of the company’s stock were exchanged, compared to its average volume of 1,097,685. The business’s 50-day moving average is $38.36 and its two-hundred day moving average is $33.87. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of -214.71, a PEG ratio of 16.82 and a beta of 0.59. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. nCino has a fifty-two week low of $28.09 and a fifty-two week high of $43.20.

Insiders Place Their Bets

In related news, insider Sean Desmond sold 30,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $34.77, for a total value of $1,043,100.00. Following the completion of the transaction, the insider now directly owns 341,511 shares in the company, valued at approximately $11,874,337.47. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gregory Orenstein sold 3,885 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the completion of the sale, the chief financial officer now directly owns 276,892 shares of the company’s stock, valued at approximately $9,705,064.60. This represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,852,703 shares of company stock worth $177,212,673 in the last quarter. 28.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On nCino

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates raised its holdings in nCino by 6.0% in the 2nd quarter. Raymond James & Associates now owns 403,429 shares of the company’s stock worth $12,688,000 after purchasing an additional 22,729 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in nCino in the second quarter worth about $236,000. Nicholas Company Inc. boosted its position in nCino by 13.2% during the 2nd quarter. Nicholas Company Inc. now owns 133,368 shares of the company’s stock valued at $4,194,000 after acquiring an additional 15,500 shares in the last quarter. EFG Asset Management North America Corp. raised its position in shares of nCino by 31.9% in the 2nd quarter. EFG Asset Management North America Corp. now owns 41,458 shares of the company’s stock worth $1,303,000 after acquiring an additional 10,015 shares in the last quarter. Finally, Crewe Advisors LLC bought a new stake in shares of nCino during the second quarter valued at approximately $26,000. Institutional investors own 94.76% of the company’s stock.

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.