nCino (NASDAQ:NCNO) Given New $35.00 Price Target at Scotiabank

nCino (NASDAQ:NCNO) had its price target trimmed by Scotiabank from $42.00 to $35.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

NCNO has been the subject of a number of other research reports. Morgan Stanley decreased their price target on shares of nCino from $41.00 to $39.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Piper Sandler restated a “neutral” rating and issued a $38.00 target price on shares of nCino in a research note on Thursday, December 5th. Robert W. Baird dropped their price target on nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Keefe, Bruyette & Woods raised their price objective on nCino from $41.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Raymond James dropped their target price on nCino from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

nCino Price Performance

Shares of NCNO stock opened at $29.49 on Thursday. nCino has a fifty-two week low of $27.29 and a fifty-two week high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -173.46, a PEG ratio of 5.77 and a beta of 0.66. The stock’s 50-day simple moving average is $31.52 and its 200-day simple moving average is $34.15.

Insider Activity

In other news, CEO Sean Desmond sold 5,034 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total value of $164,108.40. Following the completion of the sale, the chief executive officer now directly owns 306,477 shares in the company, valued at $9,991,150.20. The trade was a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Pierre Naude sold 17,026 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 value of $555,047.60. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 86,877 shares of company stock worth $2,963,893 in the last ninety days. Company insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp acquired a new stake in nCino in the 4th quarter worth about $34,000. Hilltop National Bank acquired a new stake in shares of nCino in the fourth quarter worth approximately $37,000. Johnson Financial Group Inc. purchased a new stake in shares of nCino during the fourth quarter worth approximately $57,000. Asset Management One Co. Ltd. raised its stake in nCino by 16.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,279 shares of the company’s stock valued at $78,000 after purchasing an additional 323 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new position in nCino in the 3rd quarter valued at $152,000. Hedge funds and other 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.