Shares of nCino Inc. (NASDAQ:NCNO – Get Free Report) have earned an average rating of “Moderate Buy” from the eighteen research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $24.38.
A number of analysts recently commented on the company. Truist Financial lifted their price target on nCino from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, August 26th. Citigroup reissued a “market outperform” rating on shares of nCino in a research report on Wednesday, August 26th. Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of nCino in a research note on Wednesday, August 26th. Keefe, Bruyette & Woods raised their target price on nCino from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, August 26th. Finally, UBS Group reiterated a “buy” rating on shares of nCino in a research note on Wednesday, August 26th.
Check Out Our Latest Research Report on NCNO
nCino Price Performance
Insider Buying and Selling
In other news, insider April Rieger sold 7,852 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 $150,915.44. Following the completion of the transaction, the insider directly owned 375,749 shares of the company’s stock, valued at $7,221,895.78. This represents a 2.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Pierre Naude sold 4,677 shares of the firm’s 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 $89,891.94. Following the sale, the director owned 1,116,707 shares of the company’s stock, valued at approximately $21,463,108.54. The trade was a 0.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 90,138 shares of company stock worth $1,787,353 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.
Hedge Funds Weigh In On nCino
Several institutional investors have recently bought and sold shares of NCNO. Janney Montgomery Scott LLC raised its stake in nCino by 9.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,467 shares of the company’s stock valued at $187,000 after acquiring an additional 1,039 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in nCino by 4.4% during the first quarter. Kornitzer Capital Management Inc. KS now owns 25,915 shares of the company’s stock valued at $388,000 after purchasing an additional 1,087 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in nCino by 8.5% during the first quarter. The Manufacturers Life Insurance Company now owns 23,973 shares of the company’s stock valued at $359,000 after purchasing an additional 1,870 shares during the last quarter. IFP Advisors Inc boosted its position in nCino by 7,370.4% during the second quarter. IFP Advisors Inc now owns 2,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,990 shares during the period. Finally, Bleakley Financial Group LLC boosted its position in nCino by 7.2% during the first quarter. Bleakley Financial Group LLC now owns 30,525 shares of the company’s stock worth $457,000 after purchasing an additional 2,054 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.
nCino Company Profile
nCino, Inc is a financial technology company that provides cloud-based software to banks, credit unions and other financial institutions. Its platform is designed to help institutions modernize and manage core banking processes through a unified, configurable operating environment.
The company’s products support commercial, small-business and consumer lending; account opening and deposit origination; customer onboarding; loan and relationship management; workflow automation; and portfolio and analytics capabilities.
Further Reading
- Five stocks we like better than nCino
- Salesforce Just Got a Rare Double Upgrade—What Changed?
- OpenAI’s Revenue Scare Could Be a Big Opportunity for Investors
- China Still Dominates Rare Earths—These 3 U.S. Companies Could Benefit
- 3 REITs That May Win in a Higher Interest Rate Environment
Receive News & Ratings for nCino Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nCino and related companies with MarketBeat.com's FREE daily email newsletter.
