nCino Inc. (NASDAQ:NCNO) Receives Average Recommendation of “Moderate Buy” from Brokerages

nCino Inc. (NASDAQ:NCNO) has earned an average recommendation of “Moderate Buy” from the twenty analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $31.4667.

Several analysts recently commented on NCNO shares. JPMorgan Chase & Co. lowered their target price on nCino from $30.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Barclays reduced their price target on nCino from $34.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday. Truist Financial lowered their price target on nCino from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, December 4th. Piper Sandler cut their price objective on shares of nCino from $34.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, December 4th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of nCino from $34.50 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th.

Insider Activity

In other nCino news, SVP Jeanette Sellers sold 2,182 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $18.26, for a total value of $39,843.32. Following the completion of the sale, the senior vice president directly owned 43,219 shares in the company, valued at $789,178.94. This represents a 4.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider April Rieger sold 8,078 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total value of $150,897.04. Following the completion of the sale, the insider owned 221,696 shares of the company’s stock, valued at $4,141,281.28. This trade represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 69,803 shares of company stock valued at $1,345,743 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. FNY Investment Advisers LLC grew its holdings in nCino by 15.9% during the fourth quarter. FNY Investment Advisers LLC now owns 3,228 shares of the company’s stock worth $82,000 after acquiring an additional 444 shares during the period. Advisors Asset Management Inc. lifted its holdings in nCino by 68.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock valued at $32,000 after acquiring an additional 458 shares during the last quarter. US Bancorp DE lifted its holdings in nCino by 1.6% in the 3rd quarter. US Bancorp DE now owns 32,042 shares of the company’s stock valued at $869,000 after acquiring an additional 501 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of nCino by 186.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock valued at $26,000 after purchasing an additional 617 shares in the last quarter. Finally, Lecap Asset Management Ltd. boosted its position in shares of nCino by 2.3% during the 4th quarter. Lecap Asset Management Ltd. now owns 31,163 shares of the company’s stock valued at $799,000 after purchasing an additional 691 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $15.00 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $17.88 and a 200-day simple moving average of $23.24. The company has a market cap of $1.72 billion, a PE ratio of -83.33, a P/E/G ratio of 2.85 and a beta of 0.59. nCino has a 12-month low of $13.80 and a 12-month high of $33.92.

nCino declared that its board has initiated a stock repurchase plan on Monday, December 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

nCino Company Profile

nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.

Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.