Steven A. Collins, a director at nCino, Inc. (NASDAQ:NCNO), recently sold 6,688 shares of the company's common stock. The shares were sold at a weighted average price of $35.7018, amounting to a total transaction value of approximately $238,773. The sales occurred on December 13, 2024, and following the transaction, Collins holds 60,102 shares directly. The shares were sold in multiple transactions, with prices ranging from $35.61 to $36.39.The cloud banking software provider, valued at $4.1 billion, has shown strong momentum with ~13% revenue growth in the last twelve months. According to InvestingPro analysis, nCino maintains a "GOOD" overall financial health score, despite not being profitable in the recent period. The stock has delivered an impressive ~15% return over the past six months. For deeper insights into insider trading patterns and access to 9 additional ProTips, explore nCino's comprehensive Pro Research Report on InvestingPro.
In other recent news, nCino Inc. has seen a series of adjustments in its stock price targets by various analyst firms due to recent financial performance and market realities. UBS initiated coverage on nCino shares with a Buy rating and a price target of $44.00, highlighting the company's potential to capitalize on an over $18 billion global market opportunity. The firm projects a compound annual growth rate (CAGR) of approximately 15% through the fiscal year 2028.
Keefe, Bruyette & Woods reduced the price target for nCino to $44.00 from the previous $49.00, while maintaining an Outperform rating. This adjustment followed nCino's third-quarter earnings, which surpassed expectations, although the forecast for the fourth quarter did not meet analysts' hopes.
Baird lowered its price target for nCino to $42 from the previous $43, maintaining a neutral stance. The firm cited the company's recent revenue increase of 14% and improved EBIT margins, but also noted challenges in the mortgage sector and a subdued recovery outlook for the fourth quarter.
Stephens raised its price target from $35 to $38, acknowledging nCino's strong performance in areas other than the mortgage sector. The firm noted the company's successful expansion in international markets and maintained its long-term positive outlook despite current uncertainties.
Lastly, Needham increased its price target from $40 to $45 and maintained a Buy rating. The firm attributed nCino's strong third-quarter fiscal year 2025 performance to robust subscription revenue growth and effective cost management. These are recent developments for nCino Inc.
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