nCino price target raised to $27 from $23 at Morgan Stanley

Morgan Stanley raised the firm’s price target on nCino (NCNO) to $27 from $23 and keeps an Equal Weight rating on the shares. Though the firm would “lean tactically positive” on nCino due to recent estimate cuts, pricing tailwinds, and recent innovation cadence, and views near-term estimates as “now much more achievable,” it prefers to observe the Commercial and Consumer penetration cadence from the sidelines to gain conviction in low-double digit revenue growth and a multiple re-rating, the analyst tells investors.