Truist lowered the firm’s price target on nCino (NCNO) to $27 from $32 on lower assumed sector valuations, while keeping a Hold rating on the shares. The firm notes nCino delivered solid Q3 with upside to its estimates across revenues and profits. Management highlighted broad demand across segments and geos with AI adoption building. Truist stays on the sidelines given continued uncertainty on growth reacceleration or the degree of reacceleration.
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Read More on NCNO:
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- Balanced Outlook on nCino: Strong Performance Amidst Growth Uncertainty
- Positive Outlook for nCino: Strategic Initiatives and Valuation Growth Support Buy Rating
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