nCino’s (NCNO) Equal Weight Rating Reiterated at Stephens

Stephens reissued their equal weight rating on shares of nCino (NASDAQ:NCNO) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $38.00 target price on the stock.

Several other equities analysts have also weighed in on the stock. Needham & Company LLC upped their price objective on shares of nCino from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Barclays raised shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 target price for the company in a research report on Monday, January 6th. Morgan Stanley decreased their target price on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, December 6th. KeyCorp reissued a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Finally, Macquarie boosted their target price on shares of nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, nCino has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

nCino Price Performance

Shares of NASDAQ NCNO opened at $28.41 on Thursday. The firm’s 50-day moving average price is $31.89 and its 200-day moving average price is $34.18. nCino has a 1-year low of $27.29 and a 1-year high of $43.20. The firm has a market capitalization of $3.29 billion, a P/E ratio of -167.11, a P/E/G ratio of 5.77 and a beta of 0.66. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

Insiders Place Their Bets

In other nCino news, insider April Rieger sold 4,325 shares of the business’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 transaction, the insider now directly owns 145,953 shares in the company, valued at $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gregory Orenstein sold 5,148 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $167,824.80. Following the completion of the transaction, the chief financial officer now owns 271,744 shares in the company, valued at approximately $8,858,854.40. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,877 shares of company stock valued at $2,963,893. Corporate insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NCNO. Fifth Third Bancorp purchased a new position in nCino in the fourth quarter valued at about $34,000. Hilltop National Bank purchased a new stake in shares of nCino during the 4th quarter valued at approximately $37,000. Johnson Financial Group Inc. purchased a new stake in shares of nCino during the 4th quarter valued at approximately $57,000. Asset Management One Co. Ltd. lifted its stake in shares of nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after buying an additional 323 shares in the last quarter. Finally, West Tower Group LLC purchased a new stake in shares of nCino during the 3rd quarter valued at approximately $126,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

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.