nCino, Inc. (NASDAQ:NCNO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of nCino, Inc. (NASDAQ:NCNO) have been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $42.50.

A number of analysts have recently commented on the company. UBS Group assumed coverage on nCino in a report on Monday, December 16th. They set a “buy” rating and a $44.00 price objective for the company. Needham & Company LLC upped their price objective on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Macquarie upped their price objective on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Scotiabank upped their price objective on nCino from $36.00 to $46.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. 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.

nCino Trading Down 2.4 %

Shares of NCNO opened at $32.06 on Friday. The stock has a fifty day moving average of $33.69 and a two-hundred day moving average of $34.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $3.71 billion, a PE ratio of -188.58, a price-to-earnings-growth ratio of 5.80 and a beta of 0.65. nCino has a fifty-two week low of $28.09 and a fifty-two week high of $43.20.

Insider Activity

In other news, Director Jeff Horing sold 450,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $37.27, for a total transaction of $16,771,500.00. Following the completion of the sale, the director now directly owns 12,063,467 shares in the company, valued at $449,605,415.09. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider April Rieger sold 4,325 shares of the firm’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 $140,995.00. Following the sale, the insider now owns 145,953 shares of the company’s stock, valued at $4,758,067.80. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,270,085 shares of company stock worth $225,838,863 over the last ninety days. Corporate insiders own 28.40% of the company’s stock.

Hedge Funds Weigh In On nCino

A number of hedge funds have recently bought and sold shares of the company. Asset Management One Co. Ltd. grew its stake in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after purchasing an additional 323 shares in the last quarter. Victory Capital Management Inc. grew its stake in nCino by 2.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock worth $407,000 after purchasing an additional 340 shares in the last quarter. Malaga Cove Capital LLC grew its stake in nCino by 3.0% in the third quarter. Malaga Cove Capital LLC now owns 13,614 shares of the company’s stock worth $430,000 after purchasing an additional 400 shares in the last quarter. Berry Wealth Group LP grew its stake in nCino by 5.1% in the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock worth $276,000 after purchasing an additional 400 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in nCino by 2.2% in the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock worth $772,000 after purchasing an additional 500 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

About nCino

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.