Raymond James Lowers nCino (NASDAQ:NCNO) Price Target to $42.00

nCino (NASDAQ:NCNO) had its target price dropped by Raymond James from $44.00 to $42.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 44.93% from the company’s current price.

A number of other analysts have also recently commented on the company. Robert W. Baird cut their price objective on nCino from $43.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, December 5th. Piper Sandler reissued a “neutral” rating and set a $38.00 target price on shares of nCino in a report on Thursday, December 5th. Barclays raised nCino from an “equal weight” rating to an “overweight” rating and set a $44.00 price target on the stock in a research note on Monday, January 6th. Macquarie raised their price objective on nCino from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, William Blair reaffirmed an “outperform” rating on shares of nCino in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.79.

nCino Stock Performance

Shares of NASDAQ NCNO opened at $28.98 on Tuesday. nCino has a 1 year low of $27.29 and a 1 year high of $43.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.95 and a current ratio of 1.95. The company’s fifty day moving average price is $31.73 and its 200 day moving average price is $34.22. The company has a market capitalization of $3.36 billion, a PE ratio of -170.46, a price-to-earnings-growth ratio of 5.77 and a beta of 0.66.

Insider Transactions at nCino

In other news, Director Pierre Naude sold 17,026 shares of nCino stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $32.60, for a total transaction of $555,047.60. Following the completion of the sale, the director now directly owns 1,097,213 shares of the company’s stock, valued at approximately $35,769,143.80. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeff Horing sold 54,876 shares of the business’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 transaction, the director now owns 4,458,591 shares of the company’s stock, 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 90 days, insiders have sold 86,877 shares of company stock valued at $2,963,893. 28.40% of the stock is currently owned by company insiders.

Institutional Trading of nCino

A number of institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of nCino by 46.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,092,862 shares of the company’s stock valued at $38,327,000 after acquiring an additional 344,269 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in nCino in the third quarter valued at approximately $689,000. Verition Fund Management LLC acquired a new stake in nCino during the third quarter worth approximately $594,000. Charles Schwab Investment Management Inc. lifted its position in shares of nCino by 51.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 556,757 shares of the company’s stock worth $17,588,000 after buying an additional 189,283 shares during the last quarter. Finally, Commerce Bank acquired a new position in shares of nCino in the 3rd quarter valued at $575,000. 94.76% of the stock is owned by hedge funds and other institutional investors.

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 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.