nCino (NASDAQ:NCNO) Price Target Increased to $30.00 by Analysts at Morgan Stanley

nCino (NASDAQ:NCNO) had its price target increased by Morgan Stanley from $27.00 to $30.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 19.74% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $42.00 target price on shares of nCino in a report on Wednesday. Needham & Company LLC increased their target price on shares of nCino from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday. William Blair restated an “outperform” rating on shares of nCino in a research report on Wednesday. Robert W. Baird raised their price objective on shares of nCino from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Truist Financial lowered their target price on shares of nCino from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, November 30th. Five research analysts have rated the stock with a hold rating and six have given a buy 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 $35.40.

nCino Price Performance

Shares of nCino stock opened at $37.38 on Wednesday. nCino has a twelve month low of $21.26 and a twelve month high of $37.48. The business has a 50-day moving average price of $30.79 and a 200 day moving average price of $30.77. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.05. The firm has a market cap of $4.23 billion, a PE ratio of -98.37, a P/E/G ratio of 11.07 and a beta of 0.44.

Insider Activity at nCino

In other news, VP Jeanette Sellers sold 894 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $31.18, for a total value of $27,874.92. Following the completion of the sale, the vice president now directly owns 20,770 shares of the company’s stock, valued at approximately $647,608.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Matthew Royce Hansen sold 5,948 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $34.65, for a total transaction of $206,098.20. Following the completion of the sale, the insider now directly owns 228,514 shares of the company’s stock, valued at $7,918,010.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jeanette Sellers sold 894 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $31.18, for a total transaction of $27,874.92. Following the sale, the vice president now owns 20,770 shares in the company, valued at approximately $647,608.60. The disclosure for this sale can be found here. Insiders sold a total of 32,935 shares of company stock valued at $1,069,845 in the last quarter. Insiders own 38.20% of the company’s stock.

Institutional Investors Weigh In On nCino

A number of large investors have recently made changes to their positions in NCNO. Kayne Anderson Rudnick Investment Management LLC increased its stake in nCino by 8.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,958,165 shares of the company’s stock valued at $239,700,000 after buying an additional 634,120 shares during the period. Vanguard Group Inc. boosted its holdings in nCino by 19.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,996,554 shares of the company’s stock valued at $238,653,000 after purchasing an additional 1,143,370 shares during the period. BlackRock Inc. lifted its holdings in shares of nCino by 0.6% during the 2nd quarter. BlackRock Inc. now owns 3,266,239 shares of the company’s stock worth $98,379,000 after acquiring an additional 18,536 shares during the period. Wasatch Advisors LP lifted its holdings in shares of nCino by 18.9% during the 4th quarter. Wasatch Advisors LP now owns 2,253,248 shares of the company’s stock worth $75,777,000 after acquiring an additional 358,766 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in nCino by 0.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,211,199 shares of the company’s stock valued at $54,793,000 after purchasing an additional 15,779 shares during the last quarter. 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, a secure cloud-based solution, which empowers bank employees and leaders with true insight into the bank through an end-to-end platform that spans business lines and combines customer relationship management, customer onboarding, account opening, loan origination, deposit accounts, workflow, credit analysis, enterprise content management, and instant reporting capabilities.