nCino (NCNO) | News Based Sentiment Analysis

• nCino kicked off September with a remarkably strong Q2 FY26 earnings report, announced between September 2-7, 2025, exceeding analyst expectations on multiple fronts. Revenue reached $148.8 million, a 12.4% year-over-year increase and $5.6 million above estimates, while adjusted EPS soared to $0.22, significantly beating the $0.14 estimate (a 58.1% beat).
• Following the impressive Q2 results on September 2, 2025, analysts responded with increased optimism, raising their price targets. Raymond James, Needham, Barclays, JMP Securities, and Piper Sandler all increased their price targets to $36.00, $38.00, $37.00, $41.00, and $34.00 respectively, bringing the consensus price target to $33.94.
• Despite the positive momentum, insider selling emerged as a point of attention. Director Jeff Horing sold a substantial number of shares on August 29, 2025, totaling 543,169 shares for approximately $17.6 million, representing 4.7% of his holdings, though this was part of a pre-planned Rule 10b5-1 trading plan. Further sales occurred on September 5th and 8th, totaling 3,915,422 shares for $117.5 million.
• nCino is actively expanding its global reach, participating in investor conferences throughout September 2025, including the Goldman Sachs Communacopia + Technology Conference on September 10 and the Piper Sandler Growth Frontiers Conference on September 11, to showcase their AI-powered Banking Advisor and discuss new customer wins in Spain and the UK.
• On September 3, 2025, nCino launched "ProBanker by FullCircl," a new solution aimed at helping UK lenders identify opportunities and manage risk within their business portfolios, signaling a continued focus on international market penetration.
• Zacks Research downgraded shares of nCino from a "strong-buy" rating to a "hold" rating on September 3, 2025, while the average analyst rating remained at "Hold" with an average 12-month price target of $33.94 as of September 6, 2025.
• Institutional investors continue to hold a significant stake in nCino, owning 94.76% of the stock as of June 30, 2025, with Advisors Asset Management Inc. increasing their stake by 68.5% in Q2.

The Investment Story: September was a strong month for nCino, marked by impressive Q2 earnings and positive analyst reactions, though tempered by significant insider selling. The company continues to expand its global footprint and innovate with new solutions like ProBanker by FullCircl.

What It Means for Investors: The strong financial performance and increased guidance suggest nCino is successfully executing its strategy. However, the substantial insider selling warrants attention, and investors should monitor its impact. The high institutional ownership indicates continued confidence from major investors.

Looking Ahead: Investors should focus on the Q3 FY2026 earnings release expected on December 3, 2025, with an anticipated EPS of $0.20, and track the company's progress in the UK market with the new ProBanker solution.

The Bottom Line: nCino's recent performance demonstrates its potential in the banking technology space, but the insider selling introduces a degree of caution. The combination of strong financials, strategic expansion, and institutional support makes it an interesting investment, but careful monitoring is advised.