Screened 2026-09-07 · the tape above runs as of 22:12 UTC · 11 Sep · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markup label.
nCino, Inc. holds its Markup at $23.12. Consolidating, no directional conviction, held for 80 days.
As held on the ledger · 2026-09-07
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 80 days
Price at the screen
$23.12
Valuation
74.58 trailing · 14.61 forward price to earnings
Values screen
PASS
Beta
0.69
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
15.99%
Below 33%
Interest-bearing debt is just 16.0% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
5.07%
Below 33%
Cash held in interest-bearing accounts and securities is 5.1% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-07 screen. The gold marker is the market price at the same screen. A 21.1% margin of safety to the base estimate.
Third-party analyst targets: 11 covering, consensus Buy. The average target sits +8% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-07 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Banks still wrestling with outdated core systems
Picture a regional bank manager still emailing spreadsheets between branches just to open a new account. nCino sells the cloud platform meant to replace that mess, and revenue is still edging up 11 percent a year. At 12 times forward earnings the shares sit well below our $28 fair value, offering a 57 percent margin of safety from the current $17.85 price, and the business clears our ethical screen without issue.
The thesis rests on simple arithmetic. Double-digit revenue growth plus a clean balance sheet can justify a higher multiple once profit margins move beyond the present 2 percent and return on equity climbs past 2 percent. Eleven analysts already see enough runway to carry a consensus buy rating and a $23 median target.
Yet the moat is weak, so any slowdown in bank technology budgets could quickly compress those thin margins further. Low returns on equity leave little room for execution slips or fresh competition. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
NCNO trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-06Markup$20.69+6.1%Entry 5
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 6.1% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 43%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (14 analysts) rates it buy, with a mean price target of $24.
2026-08-06Markup · changed$19.50+30.7%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 30.7% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 43%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (14 analysts) rates it buy, with a mean price target of $24.
2026-07-18Distribution$14.92+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 43%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (14 analysts) rates it buy, with a mean price target of $24.
2026-07-03Distribution$14.92+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Distribution$14.92Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.