Robert W. Baird Issues Pessimistic Forecast for nCino (NASDAQ:NCNO) Stock Price

nCino (NASDAQ:NCNO) had its target price reduced by equities research analysts at Robert W. Baird from $43.00 to $42.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 12.27% from the stock’s current price.

A number of other brokerages also recently weighed in on NCNO. JMP Securities restated a “market outperform” rating and set a $43.00 target price on shares of nCino in a report on Wednesday, August 28th. Morgan Stanley upped their target price on shares of nCino from $30.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, December 2nd. Truist Financial reiterated a “buy” rating and issued a $44.00 target price (up from $37.00) on shares of nCino in a research note on Monday, October 21st. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a research report on Tuesday, September 3rd. Finally, Stephens raised their price objective on nCino from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.38.

nCino Stock Up 0.3 %

NASDAQ:NCNO opened at $37.41 on Thursday. nCino has a twelve month low of $28.09 and a twelve month high of $43.20. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of -137.70, a price-to-earnings-growth ratio of 34.42 and a beta of 0.59. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average price is $37.72 and its two-hundred day moving average price is $33.60.

Insider Activity at nCino

In related news, Director William J. Ruh sold 10,000 shares of the business’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 transaction, the director now owns 226,201 shares of the company’s stock, valued at $8,482,537.50. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Desmond sold 30,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $34.77, for a total transaction of $1,043,100.00. Following the sale, the insider now owns 341,511 shares in the company, valued at $11,874,337.47. This represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,235,029 shares of company stock worth $117,599,204. Corporate insiders own 28.40% of the company’s stock.

Institutional Investors Weigh In On nCino

A number of hedge funds have recently made changes to their positions in NCNO. Thrivent Financial for Lutherans bought a new position in nCino in the 3rd quarter valued at approximately $689,000. Select Equity Group L.P. increased its holdings in shares of nCino by 182.0% during the second quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock worth $800,000 after buying an additional 16,416 shares in the last quarter. Vanderbilt University lifted its stake in shares of nCino by 192.3% in the 3rd quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after acquiring an additional 92,481 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of nCino during the 3rd quarter valued at $745,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in nCino by 63.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,599 shares of the company’s stock worth $5,452,000 after acquiring an additional 66,869 shares during the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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.