JPMorgan adds nCino to ‘Positive Catalyst Watch’ list

JPMorgan added nCino (NCNO) to the firm’s Positive Catalyst Watch list as a beneficiary of lower rates, noting that the company’s mortgage business represents about 15% of its Annual Contract Value and that lower rates encourage higher new loan originations and refinancing. After catching up with the three companies in the analyst’s digital banking coverage and performing analyses on the operating environments, the firm is “encouraged by the optimistic set ups” for Alkami (ALKT), Q2 Holdings (QTWO) and nCino and prefers the stocks in that order, the analyst tells investors. JPMorgan maintains a Neutral rating and $30 price target on nCino shares.