nCino (NASDAQ:NCNO) Price Target Raised to $30.00 at Morgan Stanley

nCino (NASDAQ:NCNO) had its price target lifted by Morgan Stanley from $27.00 to $30.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Piper Sandler restated an overweight rating and set a $42.00 price objective on shares of nCino in a research report on Wednesday. Robert W. Baird upped their price objective on shares of nCino from $34.00 to $36.00 and gave the stock a neutral rating in a research report on Wednesday. Truist Financial cut their price target on shares of nCino from $40.00 to $37.00 and set a buy rating for the company in a report on Thursday, November 30th. Needham & Company LLC increased their price target on shares of nCino from $40.00 to $42.00 and gave the company a buy rating in a report on Wednesday. Finally, William Blair reiterated an outperform rating on shares of nCino in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $35.40.

nCino Stock Up 19.0 %

Shares of nCino stock opened at $35.90 on Wednesday. The company has a market cap of $4.06 billion, a P/E ratio of -61.90, a PEG ratio of 11.16 and a beta of 0.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.10 and a current ratio of 1.10. nCino has a one year low of $21.26 and a one year high of $36.65. The firm has a fifty day moving average of $30.69 and a two-hundred day moving average of $30.72.

Insider Activity at nCino

In related news, VP Jeanette Sellers sold 894 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $31.18, for a total value of $27,874.92. Following 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 filing with the SEC, which is available through this hyperlink. In other nCino news, Director Steven A. Collins sold 3,700 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $35.56, for a total transaction of $131,572.00. Following the sale, the director now directly owns 67,216 shares of the company’s stock, valued at approximately $2,390,200.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeanette Sellers sold 894 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $31.18, for a total transaction of $27,874.92. Following the sale, the vice president now directly owns 20,770 shares in the company, valued at $647,608.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,935 shares of company stock valued at $1,069,845. Insiders own 38.20% of the company’s stock.

Institutional Investors Weigh In On nCino

Several hedge funds have recently modified their holdings of NCNO. Raymond James Financial Services Advisors Inc. boosted its stake in shares of nCino by 36.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,277 shares of the company’s stock worth $257,000 after purchasing an additional 1,672 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of nCino during the 1st quarter worth about $149,000. Blair William & Co. IL purchased a new position in shares of nCino during the 1st quarter worth about $1,064,000. Canada Pension Plan Investment Board lifted its holdings in shares of nCino by 682.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,936 shares of the company’s stock worth $284,000 after acquiring an additional 6,050 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of nCino by 11.0% during the 1st quarter. Vanguard Group Inc. now owns 5,691,682 shares of the company’s stock worth $233,246,000 after acquiring an additional 564,654 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

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.