Opinions
Cole Kachur
nCino
NCNO-Q
TOP PICK
Feb 16, 2021
They work with global financial companies to increase efficiency in lending and customer relations. It's been breaking out in recent days, up 6-8%. The financial industry is ripe for disruption to be more efficient and NCNO is a leader here. (Analysts’ price target is $93.14)
$84.310
Stock price when the opinion was issued
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COMMENT
What he calls one of 15 Red Hot stocks: unstoppable growth stocks with a sky-high valuation (30-100x sales, not earnings) A banking software company backed by Salesforce, it went public in July. It trades at sky-high valuations, more than 30x sales, though reported a great last quarter.
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COMMENT
Was today's tech rally a blip or does it have legs? NCNO is an example. They make cloud software for big banks and little credit unions. A terrific company. The stock has beens expensive since last summer's IPO, but it's gotten much cheaper recently. They just reported a strong quarter: 47% revenue growth and full year's sales forecast was higher than expected, but are guiding to a larger-than-expected loss. Now, Wall Street wants earnings, not revenue growth.
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BUY ON WEAKNESS
2020 IPOs cost way too much, and are worth buying now that they are out of style and cheaper. They provide cloud-base banking software with few, if any, competitors. It IPO'd last July at $91, too high. He recommended $68. It zoomed up, then plunged to $57 last month--the buying price. It's rebounded to the low-$70s. You can buy it at current dips, but don't rush into it.
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