In a report released today, Mayank Tandon from Needham initiated coverage with a Buy rating on nCino (NCNO) and a price target of $90.00. The company’s shares closed last Thursday at $70.75, close to its 52-week low of $65.32.
According to TipRanks.com, Tandon is a top 100 analyst with an average return of 25.6% and a 72.2% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Bottomline Technologies, and Duck Creek Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for nCino with a $89.25 average price target, representing a 26.6% upside. In a report issued on January 15, KeyBanc also maintained a Buy rating on the stock with a $80.00 price target.
See today’s analyst top recommended stocks >>
Based on nCino’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $54.23 million and GAAP net loss of $9.06 million. In comparison, last year the company earned revenue of $37.86 million and had a GAAP net loss of $6.03 million.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NCNO in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ncino Inc is a provider of cloud based software for financial institutions. Its software solution digitizes, automates and streamlines inefficient and complex processes and workflow and utilizes data analytics and artificial intelligence that enables financial institutions to more effectively onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts and manage regulatory compliance. The company caters to global financial institutions, enterprise banks, regional banks, community banks, and credit unions.
