Domo signs strategic collaboration agreement with AWS for AI solutions
WILMINGTON, NC—Pierre Naude, a director at nCino, Inc. (NASDAQ:NCNO), a $2.7 billion market cap company whose stock has gained over 12% in the past week, recently sold a significant portion of the company's stock. According to a recent SEC filing, Naude disposed of 10,638 shares on April 8 at an average price of $22.309 per share, totaling $237,323. This transaction was executed to cover tax withholding obligations resulting from the vesting of restricted stock units (RSUs), as mandated by nCino's equity incentive plans. Following this sale, Naude retains ownership of 1,055,452 shares in the company. InvestingPro analysis suggests the stock is currently undervalued, with revenue growing at ~13% year-over-year. Get access to detailed valuation metrics and 12 additional ProTips with an InvestingPro subscription.
In other recent news, nCino Inc. has been the focus of several analyst updates following the release of its fiscal year 2026 guidance. UBS analyst Nik Cremo reduced the price target for nCino to $30 from $43 while maintaining a Buy rating, noting the company's revenue projections were approximately 6% below expectations, partly due to challenges in mortgage and international bookings. Goldman Sachs downgraded nCino's stock rating from Buy to Neutral and slashed the price target to $24, citing slower-than-expected performance in the company's core commercial business. Keefe, Bruyette & Woods also adjusted their price target to $28 from $40, but kept an Outperform rating, pointing to potential upside despite the company's conservative revenue guidance.
BofA Securities raised nCino's price target to $26, maintaining a Neutral rating, reflecting cautious optimism about the company's long-term growth strategy. Keefe, Bruyette & Woods reiterated their confidence in nCino's growth potential, emphasizing the opportunity for margin expansion beyond this year. The firm's analyst, Ryan Tomasello, described nCino as a potential turnaround story, despite the recent sell-off following the guidance announcement. Meanwhile, Goldman Sachs acknowledged the potential of nCino's new product suite, though they expressed a need for the company to demonstrate consistent execution over multiple quarters.
These developments highlight nCino's mixed reception among analysts, with varying opinions on its growth prospects and financial performance. Despite some downgrades, there remains a belief in the company's long-term potential, as evidenced by the ongoing support from firms like Keefe, Bruyette & Woods and UBS. Investors are closely watching nCino's ability to navigate its current challenges and capitalize on its market opportunities.
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