nCino price target raised to $32 from $27 at Truist

Truist raised the firm’s price target on nCino (NCNO) to $32 from $27 and keeps a Hold rating on the shares. The company’s Q2 results were positive with subscriber revenue and profit upside, and the firm believes that nCino is making progress against growth reacceleration initiatives, including expanding EMEA focus, refocusing on credit union market, and cross-selling mortgage, among others, the analyst tells investors in a research note. Organic subscription revenue growth also accelerated 1 point to 10%, though second-half comp dynamics likely keep a lid on definitive re-acceleration until FY27, the firm added.