nCino price target raised to $35 from $32 at Citizens JMP

Citizens JMP raised the firm’s price target on nCino (NCNO) to $35 from $32 and keeps an Outperform rating on the shares after meeting with the company’s management. Citizens believes that the company’s new guidance philosophy sets up a nice beat-and-raise cadence for the remainder of fiscal 2026, the analyst tells investors in a research note. While the relationship with Salesforce (CRM) remains important, Citizens believes that as nCino moves beyond workflows into more analytics and onboarding, the company will continue to utilize AWS (AMZN) more and more on a relative basis, which should increase subscription gross margins.