William Blair analyst Christopher Kennedy has reiterated their bullish stance on NCNO stock, giving a Buy rating today.
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Christopher Kennedy has given his Buy rating due to a combination of factors that indicate a positive outlook for nCino. The company’s recent quarterly results and forward guidance reflect progress in its strategic initiatives, which were highlighted during its investor day. These initiatives, including expansion in EMEA, increased penetration in the credit union market, and enhancements in AI data and analytics, are gaining traction and contributing to a strong pipeline and bookings momentum.
Moreover, nCino’s stock is trading at a lower multiple compared to its vertical SaaS peers, suggesting potential for valuation growth. The company is on track to achieve Rule-of-40 status by fiscal 2027, which is a positive indicator of its financial health. Despite some moderation in subscription revenue growth due to one-time items, management remains confident in achieving its fiscal 2026 ACV growth targets. These factors collectively support the Buy rating for nCino’s stock.
Kennedy covers the Technology sector, focusing on stocks such as Fidelity National Info, nCino, and Remitly Global. According to TipRanks, Kennedy has an average return of -7.8% and a 35.44% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $37.00 price target.