nCino (NASDAQ:NCNO) Price Target Cut to $42.00 by Analysts at Raymond James

nCino (NASDAQ:NCNO) had its price objective cut by Raymond James from $44.00 to $42.00 in a report published on Tuesday, Marketbeat.com reports. They currently have an outperform rating on the stock.

A number of other analysts have also commented on NCNO. Morgan Stanley dropped their price target on nCino from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, December 6th. Piper Sandler reiterated a “neutral” rating and set a $38.00 target price on shares of nCino in a research note on Thursday, December 5th. Robert W. Baird cut their price target on shares of nCino from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. UBS Group assumed coverage on shares of nCino in a report on Monday, December 16th. They set a “buy” rating and a $44.00 price objective for the company. Finally, KeyCorp reiterated a “sector weight” rating on shares of nCino in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.00.

nCino Price Performance

nCino stock opened at $29.49 on Tuesday. nCino has a 52 week low of $27.29 and a 52 week high of $43.20. The company’s 50 day moving average price is $31.52 and its two-hundred day moving average price is $34.15. The stock has a market cap of $3.41 billion, a P/E ratio of -173.46, a P/E/G ratio of 5.77 and a beta of 0.66. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20.

Insider Activity

In other news, insider April Rieger sold 4,325 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $140,995.00. Following the completion of the transaction, the insider now directly owns 145,953 shares in the company, valued at $4,758,067.80. The trade was a 2.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeff Horing sold 54,876 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.00, for a total transaction of $1,920,660.00. Following the completion of the transaction, the director now directly owns 4,458,591 shares in the company, valued at approximately $156,050,685. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,877 shares of company stock worth $2,963,893. 28.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On nCino

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its position in shares of nCino by 5.4% during the 4th quarter. California State Teachers Retirement System now owns 85,835 shares of the company’s stock valued at $2,882,000 after acquiring an additional 4,417 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in nCino in the fourth quarter valued at approximately $227,000. Public Employees Retirement System of Ohio lifted its position in nCino by 30.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 160,216 shares of the company’s stock valued at $5,380,000 after purchasing an additional 37,260 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in nCino by 67.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 242,090 shares of the company’s stock worth $8,129,000 after buying an additional 97,333 shares in the last quarter. Finally, Woodline Partners LP bought a new position in shares of nCino in the 4th quarter worth $216,000. 94.76% of the stock is currently owned by hedge funds and other 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 connects financial institution employees, clients and third parties on a single cloud-based platform which include client onboarding, deposit account opening, loan origination, end-to-end mortgage suite, and powerful ecosystem.