Wall Street Zen Upgrades nCino (NASDAQ:NCNO) to “Buy”

nCino (NASDAQ:NCNO) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other research analysts have also issued reports about the stock. Zacks Research lowered shares of nCino from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Citigroup reissued a “market outperform” rating on shares of nCino in a research report on Monday, June 22nd. JPMorgan Chase & Co. upped their price target on shares of nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Citizens Jmp lowered their price target on nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, May 18th. Finally, The Goldman Sachs Group lowered their price target on nCino from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $25.29.

nCino Stock Performance

NASDAQ:NCNO opened at $20.62 on Friday. The company’s 50 day moving average is $17.66 and its 200-day moving average is $16.84. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.31. nCino has a 12 month low of $13.80 and a 12 month high of $33.92. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 171.83 and a beta of 0.66.

Insider Buying and Selling

In other news, insider April Rieger sold 7,852 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total value of $150,915.44. Following the sale, the insider owned 375,749 shares in the company, valued at approximately $7,221,895.78. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 11,780 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total transaction of $226,411.60. Following the transaction, the chief financial officer directly owned 690,513 shares in the company, valued at $13,271,659.86. This trade represents a 1.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 83,350 shares of company stock valued at $1,568,144 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Trading of nCino

Several hedge funds and other institutional investors have recently bought and sold shares of NCNO. CWM LLC raised its position 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. Optiver Holding B.V. acquired a new stake in nCino during the first quarter worth about $32,000. Los Angeles Capital Management LLC acquired a new stake in nCino during the fourth quarter worth about $38,000. Versant Capital Management Inc grew its position in nCino by 664.9% during the second quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock worth $40,000 after buying an additional 2,101 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in nCino by 76.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock valued at $43,000 after acquiring an additional 722 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.