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.
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Read More on NCNO:
- Cautious Optimism for nCino: Hold Rating Amid Growth Potential and Market Penetration Challenges
- nCino price target raised to $28 from $26 at BofA
- nCino’s Growth Potential Amidst Challenges: A Hold Rating Analysis
- Strong Growth Prospects and Increased Price Target for nCino
- Balanced Risk/Reward Scenario for nCino: Hold Rating Maintained Amid Positive Outlook and Execution Concerns
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