nCino (NASDAQ:NCNO) Stock Price Expected to Rise, Macquarie Analyst Says

nCino (NASDAQ:NCNO) had its price objective upped by investment analysts at Macquarie from $40.00 to $43.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price target suggests a potential upside of 14.94% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods raised their target price on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Raymond James raised nCino from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Tuesday, September 3rd. Piper Sandler reiterated a “neutral” rating and set a $38.00 target price on shares of nCino in a research report on Thursday. Needham & Company LLC raised their price target on nCino from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Truist Financial reaffirmed a “buy” rating and set a $44.00 price objective (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.38.

nCino Stock Performance

Shares of NCNO stock opened at $37.41 on Friday. nCino has a 52 week low of $28.09 and a 52 week high of $43.20. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of -220.05, a PEG ratio of 35.24 and a beta of 0.59. The company has a 50-day simple moving average of $37.84 and a 200 day simple moving average of $33.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08.

Insider Activity at nCino

In other nCino news, Director Jeff Horing sold 1,833,975 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $36.62, for a total value of $67,160,164.50. Following the transaction, the director now owns 12,513,467 shares of the company’s stock, valued at approximately $458,243,161.54. The trade was a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J. Ruh sold 10,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $37.50, for a total value of $375,000.00. Following the sale, the director now directly owns 226,201 shares of the company’s stock, valued at approximately $8,482,537.50. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,235,029 shares of company stock valued at $117,599,204. 28.40% of the stock is owned by insiders.

Hedge Funds Weigh In On nCino

Institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans purchased a new position in nCino in the third quarter valued at about $689,000. Select Equity Group L.P. raised its holdings in shares of nCino by 182.0% in the 2nd quarter. Select Equity Group L.P. now owns 25,436 shares of the company’s stock worth $800,000 after purchasing an additional 16,416 shares during the period. Vanderbilt University lifted its stake in nCino by 192.3% in the third quarter. Vanderbilt University now owns 140,571 shares of the company’s stock valued at $4,441,000 after purchasing an additional 92,481 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in nCino during the third quarter valued at $745,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in nCino by 63.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,599 shares of the company’s stock worth $5,452,000 after buying an additional 66,869 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.