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

Shares of nCino Inc. (NASDAQ:NCNO) have earned a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $31.4667.

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of nCino from $30.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. BTIG Research began coverage on shares of nCino in a research note on Tuesday, December 16th. They issued a “neutral” rating on the stock. Barclays reduced their target price on shares of nCino from $34.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Truist Financial decreased their price target on shares of nCino from $32.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of nCino in a report on Thursday, January 22nd.

nCino Stock Down 6.6%

Shares of NASDAQ:NCNO opened at $14.01 on Friday. The company has a market capitalization of $1.61 billion, a PE ratio of -77.83, a price-to-earnings-growth ratio of 2.76 and a beta of 0.59. nCino has a 1 year low of $13.80 and a 1 year high of $33.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average price of $17.67 and a two-hundred day moving average price of $23.07.

nCino declared that its board has authorized a stock repurchase program on Monday, December 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other nCino news, Director Pierre Naude sold 24,273 shares of the stock in a transaction dated 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 in the company, valued at $21,796,253.64. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Gregory Orenstein sold 10,562 shares of nCino stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $18.68, for a total transaction of $197,298.16. Following the completion of the transaction, the chief financial officer owned 451,184 shares of the company’s stock, valued at $8,428,117.12. The trade was a 2.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 69,803 shares of company stock worth $1,345,743 in the last quarter. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of nCino

A number of institutional investors have recently modified their holdings of the business. Long Path Partners LP boosted its holdings in shares of nCino by 61.1% in the second quarter. Long Path Partners LP now owns 4,787,869 shares of the company’s stock worth $133,917,000 after acquiring an additional 1,815,868 shares during the period. Ranger Investment Management L.P. raised its stake in shares of nCino by 48.2% during the 3rd quarter. Ranger Investment Management L.P. now owns 1,157,751 shares of the company’s stock valued at $31,387,000 after purchasing an additional 376,506 shares during the period. Vanguard Group Inc. raised its stake in shares of nCino by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 11,924,703 shares of the company’s stock valued at $323,279,000 after purchasing an additional 201,499 shares during the period. Advantage Alpha Capital Partners LP lifted its holdings in nCino by 79.7% during the 2nd quarter. Advantage Alpha Capital Partners LP now owns 196,734 shares of the company’s stock worth $5,503,000 after purchasing an additional 87,274 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in nCino during the 3rd quarter worth about $1,397,000. 94.76% of the stock is currently owned by hedge funds and other institutional investors.

About nCino

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.