nCino initiated with a Neutral at BTIG

BTIG initiated coverage of nCino (NCNO) with a Neutral rating. For the past several years, nCino has experienced a highly-challenged end-market driven by the liquidity crisis and rising rates, and these dynamics have resulted in the company’s growth rate decelerating to high single digits on an organic basis, the analyst tells investors in a research note. nCino is seeing gradual end-market improvements and driving self-induced improvements, but the firm still has trouble gaining conviction in where growth can rebound to over the medium term, BTIG added.