nCino Inc. (NASDAQ:NCNO) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of nCino Inc. (NASDAQ:NCNO) have been given a consensus rating of “Moderate Buy” by the twenty brokerages that are covering the firm, Marketbeat Ratings 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 issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $32.3333.

A number of analysts have weighed in on the stock. Truist Financial dropped their target price on shares of nCino from $32.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nCino in a report on Thursday, January 22nd. Barclays lowered their price objective on shares of nCino from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, January 5th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 target price on shares of nCino in a report on Thursday, December 4th. Finally, UBS Group restated a “buy” rating and issued a $36.00 target price on shares of nCino in a research note on Tuesday, December 9th.

Insider Buying and Selling at nCino

In other news, Director Pierre Naude sold 24,273 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $18.68, for a total transaction of $453,419.64. Following the completion of the transaction, the director owned 1,166,823 shares of the company’s stock, valued at approximately $21,796,253.64. The trade was a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jeanette Sellers sold 2,182 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $18.26, for a total transaction of $39,843.32. Following the transaction, the senior vice president owned 43,219 shares of the company’s stock, valued at $789,178.94. This represents a 4.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 69,803 shares of company stock worth $1,345,743. 5.70% of the stock is owned by company insiders.

Institutional Trading of nCino

Several hedge funds have recently bought and sold shares of NCNO. Farther Finance Advisors LLC grew its position in nCino by 186.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 948 shares of the company’s stock worth $26,000 after purchasing an additional 617 shares during the last quarter. CWM LLC raised its holdings in shares of nCino by 255.8% during the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after buying an additional 821 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of nCino by 68.5% during the second quarter. Advisors Asset Management Inc. now owns 1,127 shares of the company’s stock worth $32,000 after buying an additional 458 shares during the period. AlphaQuest LLC boosted its position in shares of nCino by 5,022.2% during the third quarter. AlphaQuest LLC now owns 1,383 shares of the company’s stock worth $37,000 after buying an additional 1,356 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in nCino in the 4th quarter worth approximately $38,000. 94.76% of the stock is currently owned by institutional investors.

nCino Stock Performance

NCNO stock opened at $15.20 on Friday. The stock’s 50 day simple moving average is $18.67 and its 200 day simple moving average is $23.63. nCino has a 12-month low of $13.80 and a 12-month high of $33.92. The firm has a market cap of $1.74 billion, a P/E ratio of -84.44, a P/E/G ratio of 3.00 and a beta of 0.59. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.24.

nCino announced that its Board of Directors has initiated a stock repurchase program on Monday, December 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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.