5 Oversold Software Stocks to Buy According to Wall Street Analysts

4. nCino, Inc. (NASDAQ:NCNO)

Stock Upside: 64.27%

RSI: 29.34

Number of Hedge Fund Holders: 47

nCino, Inc. (NASDAQ:NCNO) is one of the oversold software stocks to buy according to Wall Street analysts. On May 7, nCino, Inc. (NASDAQ:NCNO) announced that Vision Credit Union, Alberta’s second-largest credit union, had selected the company’s platform to modernize its agricultural and commercial lending operations.

nCino said the credit union had selected the company’s Commercial Lending, Banking Advisor, and Automated Spreading products. It added that the credit union made the choice because agricultural and commercial loans make up nearly 70% of Vision’s loan portfolio. The credit union believes that nCino’s products will make their lending operations efficient and intelligent, said nCino.

To be specific, the Commercial Lending solution will take over Vision’s existing lending workflows end-to-end. It will replace what had been largely manual, paper-heavy processes. The Banking Advisor platform, on the other hand, will surface real-time recommendations and insights directly within lenders’ workflows at the moment decisions are being made. Vision anticipates that this platform will cut down the time staff spend digging for information and freeing them to focus on client engagement. Lastly, Vision will leverage the Automated Spreading product to allow its agricultural specialists to extract accurate, usable data from financial documents faster.

Vision’s CEO Dan Hautzinger commented on the deal and stated that its lending staff work embedded in rural communities and farm operations across Alberta. As such, the credit union’s competitive advantage lies in those deep personal relationships, and that nCino is meant to remove the administrative burden so lenders can spend more time on those relationships.

nCino, Inc. (NASDAQ:NCNO) is a cloud software company that provides banking and financial services institutions with digital solutions for loan origination, account opening, compliance, and customer relationship management. Its software helps banks and credit unions automate workflows, improve operational efficiency, and manage lending processes through a unified cloud-based system.