nCino price target raised to $27 from $21 at Truist

Truist raised the firm’s price target on nCino (NCNO) to $27 from $21 and keeps a Hold rating on the shares. The company’s Q1 results were solid, with upside to estimates particularly on subscription revenue, the analyst tells investors in a research note. nCino’s new bookings activity was reported to be progressing well, its pipeline commentary was positive, and its international business is seeing good progress, the analyst tells investors in a research note. nCino’s 7% reduction in force also offers investment flexibility, Truist added.