Keefe, Bruyette & Woods Has Lowered Expectations for nCino (NASDAQ:NCNO) Stock Price

nCino (NASDAQ:NCNO) had its target price dropped by investment analysts at Keefe, Bruyette & Woods from $44.00 to $40.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 38.31% from the company’s previous close.

A number of other analysts have also commented on the company. Raymond James decreased their target price on nCino from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, March 25th. Scotiabank decreased their price objective on nCino from $42.00 to $35.00 and set a “sector outperform” rating for the company in a report on Thursday. UBS Group initiated coverage on nCino in a report on Monday, December 16th. They issued a “buy” rating and a $44.00 target price on the stock. Robert W. Baird lowered their price objective on shares of nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Finally, Morgan Stanley dropped their price objective on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.36.

nCino Trading Down 1.9 %

NASDAQ:NCNO opened at $28.92 on Friday. nCino has a 12 month low of $27.29 and a 12 month high of $43.20. 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 stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -170.11, a PEG ratio of 5.77 and a beta of 0.66. The firm has a fifty day simple moving average of $31.44 and a two-hundred day simple moving average of $34.18.

Insiders Place Their Bets

In other nCino news, insider April Rieger sold 4,325 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total value of $140,995.00. Following the transaction, the insider now directly owns 145,953 shares in the company, valued at $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean Desmond sold 5,034 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $164,108.40. Following the transaction, the chief executive officer now directly owns 306,477 shares of the company’s stock, valued at $9,991,150.20. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,877 shares of company stock valued at $2,963,893. Insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Several hedge funds have recently made changes to their positions in NCNO. Fifth Third Bancorp purchased a new stake in nCino in the 4th quarter worth about $34,000. Hilltop National Bank purchased a new stake in nCino during the fourth quarter valued at about $37,000. Johnson Financial Group Inc. bought a new position in nCino during the fourth quarter worth about $57,000. Asset Management One Co. Ltd. increased its stake in shares of nCino by 16.5% in the fourth 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, PNC Financial Services Group Inc. raised its position in shares of nCino by 32.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,536 shares of the company’s stock valued at $152,000 after purchasing an additional 1,122 shares during the period. 94.76% of the stock is currently owned by institutional investors.

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.