nCino Inc. (NASDAQ:NCNO) Stock Has Consensus Target Price of $24.38 According to Brokerages

Shares of nCino Inc. (NASDAQ:NCNO) have been given a consensus rating of “Moderate Buy” by the seventeen research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $24.38.

NCNO has been the topic of a number of research analyst reports. Citigroup restated a “market outperform” rating on shares of nCino in a research report on Wednesday, August 26th. Citizens Jmp lifted their target price on shares of nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. boosted their target price on shares of nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Monday, June 22nd. Zacks Research cut nCino from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods increased their price target on nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th.

Insider Activity at nCino

In other nCino news, Director Pierre Naude sold 4,677 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total transaction of $89,891.94. Following the completion of the sale, the director directly owned 1,116,707 shares in the company, valued at $21,463,108.54. The trade was a 0.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 11,780 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $226,411.60. Following the sale, the chief financial officer directly owned 690,513 shares of the company’s stock, valued at $13,271,659.86. The trade was a 1.68% decrease in their position. 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 90,138 shares of company stock valued at $1,787,353 in the last 90 days. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On nCino

Several institutional investors have recently made changes to their positions in NCNO. Janney Montgomery Scott LLC grew its holdings in shares of nCino by 9.1% in the first quarter. Janney Montgomery Scott LLC now owns 12,467 shares of the company’s stock worth $187,000 after purchasing an additional 1,039 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in nCino by 4.4% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 25,915 shares of the company’s stock valued at $388,000 after buying an additional 1,087 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in nCino by 8.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 23,973 shares of the company’s stock valued at $359,000 after buying an additional 1,870 shares in the last quarter. IFP Advisors Inc boosted its position in nCino by 7,370.4% in the 2nd quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock valued at $33,000 after buying an additional 1,990 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in nCino by 7.2% in the 1st quarter. Bleakley Financial Group LLC now owns 30,525 shares of the company’s stock worth $457,000 after acquiring an additional 2,054 shares in the last quarter. Institutional investors own 94.76% of the company’s stock.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $19.73 on Thursday. The firm’s 50-day moving average price is $20.54 and its 200-day moving average price is $17.94. nCino has a 52-week low of $13.80 and a 52-week high of $27.50. The company has a market cap of $2.09 billion, a PE ratio of 65.77 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.34.

nCino Company Profile

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 and manage core banking processes through a unified, configurable operating environment.

The company’s products support commercial, small-business and consumer lending; account opening and deposit origination; customer onboarding; loan and relationship management; workflow automation; and portfolio and analytics capabilities.