nCino price target raised to $35 from $33 at Morgan Stanley

Morgan Stanley raised the firm’s price target on nCino (NCNO) to $35 from $33 and keeps an Equal Weight rating on the shares. With the full-year ACV outlook unchanged, the firm sees “continued estimate conservatism” and think the stock can “run to mid-$30s near-term,” the analyst tells investors in a post-earnings note. However, a re-rating beyond the mid-$30s is predicated on the magnitude of subscription acceleration in FY27, the analyst contends.