nCino Inc. (NASDAQ:NCNO) Stock Has Average Price Target of $23.42

nCino Inc. (NASDAQ:NCNO) has received a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $23.42.

A number of research firms have issued reports on NCNO. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of nCino in a report on Wednesday, August 26th. Stephens started coverage on shares of nCino in a report on Friday, October 16th. They set an “overweight” rating and a $26.00 price objective on the stock. UBS Group reissued a “buy” rating on shares of nCino in a research report on Wednesday, August 26th. KeyCorp restated a “sector weight” rating on shares of nCino in a research note on Monday, October 12th. Finally, Citizens Jmp raised their target price on nCino from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 26th.

nCino Stock Up 3.6%

NASDAQ:NCNO opened at $23.44 on Monday. The company has a market cap of $2.48 billion, a PE ratio of 78.13 and a beta of 0.77. nCino has a twelve month low of $13.80 and a twelve month high of $27.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $21.20 and its two-hundred day moving average is $18.32.

Insider Activity

In other news, insider April Rieger sold 6,098 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $21.98, for a total value of $134,034.04. Following the transaction, the insider directly owned 369,651 shares of the company’s stock, valued at approximately $8,124,928.98. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Sean Desmond sold 43,992 shares of the stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $19.90, for a total transaction of $875,440.80. Following the completion of the transaction, the chief executive officer owned 1,231,080 shares in the company, valued at approximately $24,498,492. This trade represents a 3.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 66,908 shares of company stock worth $1,366,648. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its stake in nCino by 9.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,467 shares of the company’s stock valued at $187,000 after buying an additional 1,039 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its stake in nCino by 4.4% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 25,915 shares of the company’s stock worth $388,000 after buying an additional 1,087 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in nCino by 8.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 23,973 shares of the company’s stock worth $359,000 after buying an additional 1,870 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of nCino by 7,370.4% during the second quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock valued at $33,000 after acquiring an additional 1,990 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its holdings in shares of nCino by 6.0% during the third quarter. Angeles Wealth Management LLC now owns 36,010 shares of the company’s stock valued at $653,000 after acquiring an additional 2,052 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company’s stock.

About nCino

nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize banking operations, improve customer experiences and manage lending and deposit-related processes through a centralized, cloud-based environment.

The company’s products support commercial, small-business and consumer lending; account opening and onboarding; deposit account management; loan origination and servicing; portfolio management; and related reporting and workflow automation.