nCino Inc. (NASDAQ:NCNO) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of nCino Inc. (NASDAQ:NCNO) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $23.42.

A number of analysts recently commented on NCNO shares. UBS Group reaffirmed a “buy” rating on shares of nCino in a research report on Wednesday, August 26th. Stephens began coverage on shares of nCino in a report on Friday, October 16th. They issued an “overweight” rating and a $26.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price on nCino from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. Truist Financial lifted their price target on nCino from $19.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, August 26th. Finally, Piper Sandler began coverage on nCino in a research report on Monday, August 24th. They issued an “overweight” rating and a $25.00 price target on the stock.

Insider Activity at nCino

In related news, Director Pierre Naude sold 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total value of $108,422.10. Following the completion of the transaction, the director directly owned 1,111,937 shares of the company’s stock, valued at $25,274,328.01. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 12,015 shares of nCino stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $22.73, for a total value of $273,100.95. Following the completion of the transaction, the chief financial officer owned 678,498 shares in the company, valued at $15,422,259.54. The trade was a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 133,610 shares of company stock worth $2,883,725 over the last quarter. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On nCino

Several hedge funds have recently made changes to their positions in the stock. Fulcrum Asset Management LLP bought a new position in shares of nCino in the 3rd quarter valued at about $467,000. CenterBook Partners LP acquired a new stake in nCino in the third quarter valued at approximately $1,001,000. Commonwealth Equity Services LLC acquired a new position in shares of nCino during the third quarter valued at $206,000. Cowa LLC raised its position in nCino by 20.6% during the third quarter. Cowa LLC now owns 21,650 shares of the company’s stock valued at $393,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Integrity Alliance LLC. bought a new position in nCino during the third quarter worth about $562,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

More nCino News

Here are the key news stories impacting nCino this week:

• Positive Sentiment: nCino’s recently launched AI suite could offer a growth opportunity. Investor attention may turn to adoption and management’s outlook when the company reports earnings in December. Article: nCino stock approaches December earnings after AI suite launch
• Neutral Sentiment: Several nCino executives and insiders, including CEO Sean Desmond and CFO Gregory Orenstein, sold shares. The reported transactions totaled about 66,700 shares, but were described as covering tax withholding on vested equity awards; the CEO’s sales were made under a pre-arranged trading plan. This may draw attention, though the stated reasons make it a limited indicator of their view on NCNO. Article: Insider Selling: nCino SVP Sells 905 Shares

nCino Trading Down 2.3%

NASDAQ:NCNO opened at $22.67 on Monday. The stock has a market cap of $2.40 billion, a PE ratio of 75.57 and a beta of 0.77. nCino has a fifty-two week low of $13.80 and a fifty-two week high of $27.50. The stock’s 50-day moving average is $21.22 and its two-hundred day moving average is $18.32. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85.

About nCino

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.

The company’s products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.