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WILMINGTON, N.C. — Gregory Orenstein, Chief Financial Officer and Treasurer of nCino, Inc. (NASDAQ:NCNO), a cloud banking software provider with annual revenue of $541 million, recently sold 2,356 shares of the company's common stock. According to InvestingPro data, the company's stock has shown significant momentum, gaining over 12% in the past week despite being currently undervalued. The sale, which took place on April 8, was executed at an average price of $22.309 per share, resulting in a total transaction value of $52,560.
Following this transaction, Orenstein retains ownership of 329,735 shares in nCino. It's important to note that these shares were sold to cover tax withholding obligations upon the vesting of restricted stock units (RSUs), as mandated by the company's equity incentive plans, and do not represent a discretionary trade by Orenstein.
In other recent news, nCino Inc. has been the subject of several analyst updates and financial assessments. UBS recently cut its price target for nCino to $30 from $43, maintaining a Buy rating despite the company's fiscal year 2026 guidance indicating subscription and total revenue projections approximately 6% below Street expectations. Keefe, Bruyette & Woods also adjusted their outlook, reducing the price target from $40 to $28, while retaining an Outperform rating, citing the company's fiscal year 2026 revenue guidance that fell short of market expectations. Goldman Sachs downgraded nCino from Buy to Neutral, slashing the price target to $24 from $42 due to slower-than-expected performance in the company's core commercial business and other execution challenges.
BofA Securities, on the other hand, raised its price target to $26 from $22, maintaining a Neutral rating, following investor meetings that reinforced confidence in nCino's growth strategy. Keefe, Bruyette & Woods reiterated their Outperform rating and $28 price target, expressing optimism about nCino's long-term growth potential and ability to achieve its fiscal year 2026 guidance. Despite these varied assessments, analysts have noted both challenges and potential growth opportunities for nCino, including new product offerings and a revised pricing model that could benefit growth. The company's fiscal year 2026 guidance and its approach to balancing growth and profitability have been focal points in these evaluations. As nCino navigates these developments, analysts continue to monitor its execution and market conditions closely.
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