Piper Sandler Reiterates Overweight Rating for nCino (NASDAQ:NCNO)

nCino (NASDAQ:NCNO)‘s stock had its “overweight” rating restated by equities research analysts at Piper Sandler in a report released on Wednesday, Benzinga reports. They presently have a $42.00 price objective on the stock. Piper Sandler’s price objective would suggest a potential upside of 12.36% from the stock’s current price.

NCNO has been the subject of several other reports. 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. Truist Financial decreased 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. Needham & Company LLC upped their price objective on shares of nCino from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley raised nCino from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $24.00 to $27.00 in a research report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.40.

nCino Price Performance

Shares of NASDAQ:NCNO opened at $37.38 on Wednesday. The company has a market cap of $4.23 billion, a price-to-earnings ratio of -98.37, a PEG ratio of 11.07 and a beta of 0.44. 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. nCino has a twelve month low of $21.26 and a twelve month high of $37.48.

Insider Buying and Selling

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

Institutional Trading of nCino

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming raised its holdings in nCino by 56.8% in the 4th quarter. State of Wyoming now owns 1,350 shares of the company’s stock valued at $36,000 after buying an additional 489 shares during the last quarter. UBS Group AG grew its stake in shares of nCino by 218.7% in the third quarter. UBS Group AG now owns 1,807 shares of the company’s stock worth $62,000 after purchasing an additional 1,240 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in nCino by 643.3% in the third quarter. PNC Financial Services Group Inc. now owns 3,538 shares of the company’s stock valued at $113,000 after purchasing an additional 3,062 shares during the period. Advisory Services Network LLC raised its position in nCino by 41.7% during the 1st quarter. Advisory Services Network LLC now owns 5,545 shares of the company’s stock worth $137,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in nCino by 47.9% during the 1st quarter. Advisors Asset Management Inc. now owns 3,429 shares of the company’s stock worth $141,000 after buying an additional 1,111 shares during the period. 94.76% of the stock is currently owned by institutional investors.

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.