Needham & Company LLC reiterated their buy rating on shares of nCino (NASDAQ:NCNO – Free Report) in a report published on Wednesday morning, MarketBeat.com reports. They currently have a $25.00 price objective on the stock.
A number of other analysts have also issued reports on NCNO. JPMorgan Chase & Co. boosted their target price on nCino from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, June 22nd. The Goldman Sachs Group lowered their price target on nCino from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Wall Street Zen raised nCino from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of nCino in a research note on Wednesday, June 24th. Finally, Citizens Jmp cut their price objective on nCino from $32.00 to $23.00 and set a “market outperform” rating on the stock in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.38.
Get Our Latest Research Report on NCNO
nCino Stock Performance
Insider Transactions at nCino
In other nCino news, Director Pierre Naude sold 4,677 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $19.22, for a total transaction of $89,891.94. Following the sale, the director directly owned 1,116,707 shares in the company, valued at $21,463,108.54. This represents a 0.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Orenstein sold 11,780 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $19.22, for a total transaction of $226,411.60. Following the sale, the chief financial officer owned 690,513 shares in the company, valued at approximately $13,271,659.86. This trade represents a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 83,350 shares of company stock valued at $1,568,144. 1.90% of the stock is owned by corporate insiders.
Institutional Trading of nCino
Large investors have recently modified their holdings of the stock. CWM LLC raised its stake in shares of nCino by 255.8% in the fourth quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $29,000 after acquiring an additional 821 shares in the last quarter. Optiver Holding B.V. purchased a new position in nCino in the first quarter valued at $32,000. Los Angeles Capital Management LLC purchased a new position in nCino in the fourth quarter valued at $38,000. Versant Capital Management Inc grew its stake in nCino by 664.9% during the 2nd quarter. Versant Capital Management Inc now owns 2,417 shares of the company’s stock worth $40,000 after purchasing an additional 2,101 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in nCino by 76.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,670 shares of the company’s stock worth $43,000 after purchasing an additional 722 shares in the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.
About nCino
nCino, Inc provides a cloud-based banking operating system designed to modernize and streamline processes for financial institutions. Built on a software-as-a-service (SaaS) model, the nCino Bank Operating System integrates key banking functions into a unified platform, enabling banks and credit unions to enhance efficiency, reduce risk and improve customer experiences.
Founded in 2012 as a spinoff from Live Oak Bank, nCino launched its flagship offering to address the needs of commercial and retail lenders seeking to replace legacy systems.
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