William Blair analyst Christopher Kennedy has maintained their neutral stance on NCNO stock, giving a Hold rating yesterday.
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Christopher Kennedy has given his Hold rating due to a combination of factors that reflect both optimism and caution. The company is showing progress in its strategic initiatives, particularly with the recovery in mortgage revenues, which have exceeded initial expectations. However, despite these positive developments, Kennedy maintains a cautious stance due to the stock’s current valuation, which trades at a premium compared to its faster-growing peers.
Additionally, while there is potential for growth with strong bookings activity and a robust pipeline of new business opportunities, there are concerns about the moderation in organic subscription revenue growth in the latter half of fiscal 2026. The guidance suggests a slowdown in growth, which raises questions about the company’s long-term growth trajectory in a normalized macroeconomic environment. These mixed signals contribute to the decision to maintain a Hold rating on nCino’s stock.
In another report released yesterday, Bank of America Securities also reiterated a Hold rating on the stock with a $38.00 price target.