Raymond James Cuts nCino (NASDAQ:NCNO) Price Target to $42.00

nCino (NASDAQ:NCNO) had its target price cut by Raymond James from $44.00 to $42.00 in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently commented on NCNO. Scotiabank increased their price target on nCino from $36.00 to $46.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC increased their target price on nCino from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Morgan Stanley reduced their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Piper Sandler reiterated a “neutral” rating and set a $38.00 target price on shares of nCino in a research report on Thursday, December 5th. Finally, Macquarie upped their price target on shares of nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, nCino presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

nCino Trading Down 0.8 %

Shares of nCino stock opened at $29.49 on Tuesday. The firm’s 50 day moving average is $31.52 and its 200 day moving average is $34.15. The firm has a market capitalization of $3.41 billion, a PE ratio of -173.46, a price-to-earnings-growth 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. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.20.

Insider Buying and Selling

In related news, CEO Sean Desmond sold 5,034 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider April Rieger sold 4,325 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of the sale, the insider now owns 145,953 shares of the company’s stock, valued at $4,758,067.80. The trade was a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,877 shares of company stock valued at $2,963,893 over the last 90 days. Company insiders own 28.40% of the company’s stock.

Institutional Trading of nCino

Hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp bought a new position in shares of nCino in the fourth quarter valued at $34,000. Hilltop National Bank bought a new position in nCino in the 4th quarter valued at about $37,000. Johnson Financial Group Inc. acquired a new position in nCino during the 4th quarter valued at about $57,000. Asset Management One Co. Ltd. increased its holdings in 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 purchased a new stake in shares of nCino in the third quarter worth approximately $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.