nCino (NASDAQ:NCNO) Price Target Raised to $41.00

nCino (NASDAQ:NCNO) had its price target increased by research analysts at Morgan Stanley from $30.00 to $41.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 3.44% from the company’s previous close.

Other research analysts also recently issued reports about the company. William Blair reiterated an “outperform” rating on shares of nCino in a research report on Wednesday, August 28th. Piper Sandler restated an “overweight” rating and issued a $38.00 price target on shares of nCino in a research report on Wednesday, August 28th. Barclays raised their price target on nCino from $34.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, November 25th. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and raised their price target for the stock from $34.00 to $42.00 in a research report on Wednesday, August 14th. Finally, Raymond James upgraded nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.17.

nCino Price Performance

Shares of NASDAQ NCNO traded up $0.47 during midday trading on Monday, reaching $42.46. 479,915 shares of the stock traded hands, compared to its average volume of 1,058,922. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $4.91 billion, a PE ratio of -157.26, a P/E/G ratio of 34.82 and a beta of 0.55. nCino has a one year low of $28.00 and a one year high of $43.20. The company’s 50 day moving average is $36.90 and its 200 day moving average is $33.38.

Insider Buying and Selling at nCino

In other nCino news, CFO Gregory Orenstein sold 3,885 shares of nCino stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $35.05, for a total value of $136,169.25. Following the transaction, the chief financial officer now owns 276,892 shares in the company, valued at $9,705,064.60. The trade was a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Ruh sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $37.50, for a total value of $375,000.00. Following the completion of the sale, the director now directly owns 226,201 shares of the company’s stock, valued at approximately $8,482,537.50. This represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,235,029 shares of company stock worth $117,599,204 over the last quarter. Insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

Institutional investors have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new stake in nCino in the second quarter worth about $26,000. Asset Management One Co. Ltd. lifted its holdings in shares of nCino by 21.1% during the third quarter. Asset Management One Co. Ltd. now owns 1,956 shares of the company’s stock worth $62,000 after purchasing an additional 341 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of nCino by 97.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,755 shares of the company’s stock worth $87,000 after purchasing an additional 1,358 shares during the period. West Tower Group LLC acquired a new stake in shares of nCino during the third quarter worth about $126,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of nCino during the third quarter worth about $152,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Company Profile

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.