Stephens Reiterates “Equal Weight” Rating for nCino (NASDAQ:NCNO)

nCino (NASDAQ:NCNO)‘s stock had its “equal weight” rating reissued by analysts at Stephens in a note issued to investors on Thursday,Benzinga reports. They presently have a $38.00 target price on the stock. Stephens’ target price indicates a potential upside of 33.33% from the company’s previous close.

Several other analysts also recently issued reports on NCNO. KeyCorp reaffirmed a “sector weight” rating on shares of nCino in a report on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of nCino in a report on Thursday, December 5th. Barclays raised shares of nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a report on Monday, January 6th. UBS Group began coverage on shares of nCino in a report on Monday, December 16th. They set a “buy” rating and a $44.00 price objective for the company. Finally, Piper Sandler reissued a “neutral” rating and issued a $38.00 price target on shares of nCino in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

nCino Price Performance

NASDAQ NCNO opened at $28.50 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $31.81 and a 200 day simple moving average of $34.17. The company has a market cap of $3.30 billion, a P/E ratio of -167.64, a P/E/G ratio of 5.77 and a beta of 0.66. nCino has a 1 year low of $27.29 and a 1 year high of $43.20.

Insider Activity

In related news, Director Pierre Naude sold 17,026 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $555,047.60. Following the completion of the sale, the director now owns 1,097,213 shares in the company, valued at $35,769,143.80. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sean Desmond sold 5,034 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $164,108.40. Following the sale, the chief executive officer now owns 306,477 shares of the company’s stock, valued at $9,991,150.20. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,877 shares of company stock worth $2,963,893. 28.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nCino

A number of hedge funds have recently made changes to their positions in NCNO. Fifth Third Bancorp acquired a new stake in shares of nCino during the 4th quarter worth about $34,000. Hilltop National Bank acquired a new stake in shares of nCino during the 4th quarter worth about $37,000. Johnson Financial Group Inc. acquired a new stake in shares of nCino during the 4th quarter worth about $57,000. Asset Management One Co. Ltd. increased its position in shares of nCino by 16.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock worth $78,000 after purchasing an additional 323 shares in the last quarter. Finally, West Tower Group LLC acquired a new stake in shares of nCino during the 3rd quarter worth about $126,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

nCino Company Profile

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.