nCino (NASDAQ:NCNO) PT Raised to $42.00 at Needham & Company LLC

nCino (NASDAQ:NCNO) had its target price raised by equities research analysts at Needham & Company LLC from $40.00 to $42.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 12.36% from the stock’s previous close.

Several other research firms have also issued reports on NCNO. Truist Financial lowered their price target on shares of nCino from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, November 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $42.00 price target on shares of nCino in a report on Tuesday, January 9th. Morgan Stanley upgraded nCino from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $24.00 to $27.00 in a research note on Friday, March 15th. Finally, Robert W. Baird lifted their target price on nCino from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.40.

nCino Trading Up 4.1 %

Shares of nCino stock opened at $37.38 on Wednesday. The stock has a market capitalization of $4.23 billion, a P/E ratio of -98.37, a P/E/G ratio of 11.07 and a beta of 0.44. nCino has a 52-week low of $21.26 and a 52-week high of $37.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.10 and a current ratio of 1.10. The stock’s 50-day simple moving average is $30.79 and its 200 day simple moving average is $30.77.

Insider Buying and Selling

In related news, VP Jeanette Sellers sold 3,850 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $33.73, for a total value of $129,860.50. Following the sale, the vice president now directly owns 22,387 shares of the company’s stock, valued at $755,113.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Jeanette Sellers sold 3,850 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $33.73, for a total transaction of $129,860.50. Following the sale, the vice president now owns 22,387 shares in the company, valued at approximately $755,113.51. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider April Rieger sold 1,460 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $30.66, for a total transaction of $44,763.60. Following the completion of the transaction, the insider now owns 149,078 shares of the company’s stock, valued at $4,570,731.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,935 shares of company stock worth $1,069,845. Insiders own 38.20% of the company’s stock.

Institutional Trading of nCino

A number of hedge funds have recently bought and sold shares of the company. Nomura Holdings Inc. purchased a new position in nCino in the 4th quarter worth $211,000. Bullseye Asset Management LLC increased its holdings in shares of nCino by 35.3% in the fourth quarter. Bullseye Asset Management LLC now owns 57,878 shares of the company’s stock worth $1,946,000 after buying an additional 15,100 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of nCino by 17.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 135,469 shares of the company’s stock valued at $4,556,000 after acquiring an additional 20,092 shares during the last quarter. Townsquare Capital LLC lifted its stake in shares of nCino by 1.1% in the 4th quarter. Townsquare Capital LLC now owns 191,879 shares of the company’s stock valued at $6,453,000 after acquiring an additional 2,103 shares during the last quarter. Finally, Vista Equity Partners Management LLC boosted its holdings in nCino by 74.4% during the 4th quarter. Vista Equity Partners Management LLC now owns 468,803 shares of the company’s stock valued at $15,766,000 after acquiring an additional 199,926 shares during the period. 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, 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.