nCino initiated with a Neutral at JPMorgan

JPMorgan initiated coverage of nCino (NCNO) with a Neutral rating and $30 price target The firm finds the digital banking space an attractive investment arena. nCino is uniquely benefiting from industry experience in both banking and technology, having been spun out as a separate company from a bank in late 2011, the analyst tells investors in a research note. JPMorgan, however, prefers the “more defensive qualities” of Alkami Technology (ALKT) and Q2 Holdings (QTWO) to nCino. nCino is undergoing a transition year with a lot of uncertainties, it contends.