Stephens Reiterates “Equal Weight” Rating for nCino (NASDAQ:NCNO)

nCino (NASDAQ:NCNO)‘s stock had its “equal weight” rating reissued by research analysts at Stephens in a report issued on Thursday,Benzinga reports. They currently have a $38.00 price objective on the stock. Stephens’ target price suggests a potential upside of 31.97% from the company’s current price.

Several other analysts also recently issued reports on the company. Scotiabank boosted 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. Barclays raised nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price target for the company in a research note on Monday, January 6th. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a research report on Monday, February 3rd. Robert W. Baird decreased their target price on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Finally, Macquarie upped their target price on nCino from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, nCino currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

nCino Price Performance

NASDAQ NCNO opened at $28.80 on Thursday. The stock’s 50-day moving average price is $31.99 and its two-hundred day moving average price is $34.22. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.33 billion, a PE ratio of -169.37, a PEG ratio of 5.77 and a beta of 0.66. nCino has a 1 year low of $27.29 and a 1 year high of $43.20.

Insiders Place Their Bets

In related news, Director Jeff Horing sold 54,876 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.00, for a total value of $1,920,660.00. Following the transaction, the director now owns 4,458,591 shares in the company, valued at $156,050,685. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the insider now owns 145,953 shares in the company, valued at approximately $4,758,067.80. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,877 shares of company stock worth $2,963,893 over the last three months. 28.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On nCino

Several hedge funds have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its holdings in nCino by 16.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after acquiring an additional 323 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in nCino by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,124 shares of the company’s stock worth $407,000 after buying an additional 340 shares during the last quarter. Berry Wealth Group LP boosted its holdings in nCino by 5.1% during the fourth quarter. Berry Wealth Group LP now owns 8,207 shares of the company’s stock worth $276,000 after buying an additional 400 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in nCino by 2.2% during the fourth quarter. Handelsbanken Fonder AB now owns 23,000 shares of the company’s stock worth $772,000 after buying an additional 500 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in nCino by 1.2% during the fourth quarter. Sterling Capital Management LLC now owns 48,945 shares of the company’s stock worth $1,644,000 after buying an additional 583 shares during the last quarter. Institutional investors own 94.76% of the company’s stock.

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.