nCino (NASDAQ:NCNO) Price Target Raised to $38.00

nCino (NASDAQ:NCNO) had its target price increased by Stephens from $35.00 to $38.00 in a research note released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

NCNO has been the subject of a number of other research reports. The Goldman Sachs Group upgraded nCino from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $42.00 in a research report on Wednesday, August 14th. Truist Financial reaffirmed a “buy” rating and set a $44.00 price target (up previously from $37.00) on shares of nCino in a research report on Monday, October 21st. Piper Sandler reissued an “overweight” rating and issued a $38.00 price objective on shares of nCino in a report on Wednesday, August 28th. JMP Securities reiterated a “market outperform” rating and issued a $43.00 price target on shares of nCino in a research report on Wednesday, August 28th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.38.

nCino Trading Up 0.3 %

Shares of NCNO stock opened at $37.41 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. nCino has a 12-month low of $28.09 and a 12-month high of $43.20. The stock has a market capitalization of $4.32 billion, a P/E ratio of -220.05, a P/E/G ratio of 35.24 and a beta of 0.59. The firm’s 50 day moving average is $37.84 and its 200 day moving average is $33.65.

Insider Buying and Selling

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 sale, the director now directly owns 226,201 shares in the company, valued at approximately $8,482,537.50. The trade was a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory Orenstein sold 3,885 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $35.05, for a total value of $136,169.25. Following the transaction, the chief financial officer now owns 276,892 shares of the company’s stock, valued at $9,705,064.60. This represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,235,029 shares of company stock worth $117,599,204. 28.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On nCino

Several institutional investors have recently bought and sold shares of NCNO. Franklin Resources Inc. raised its holdings in shares of nCino by 46.0% in the third quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock worth $38,327,000 after buying an additional 344,269 shares during the period. Synovus Financial Corp bought a new stake in shares of nCino during the third quarter valued at approximately $656,000. Sanctuary Advisors LLC purchased a new stake in shares of nCino in the third quarter valued at approximately $189,000. Geode Capital Management LLC grew its stake in nCino by 26.1% in the third quarter. Geode Capital Management LLC now owns 1,517,512 shares of the company’s stock worth $47,951,000 after purchasing an additional 313,637 shares in the last quarter. Finally, Bullseye Asset Management LLC increased its stake in shares of nCino by 58.5% during the third quarter. Bullseye Asset Management LLC now owns 140,878 shares of the company’s stock valued at $4,451,000 after buying an additional 52,000 shares during the period. 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.