nCino upgraded to Overweight from Equal Weight at Barclays

Barclays analyst Saket Kalia upgraded nCino (NCNO) to Overweight from Equal Weight with an unchanged price target of $44. The firm says commercial lending, mortgage volume, and vertical specific software spending by banks all look set to improve in 2025. In addition, nCino’s new platform pricing model supports estimates, and could mean “we have seen the last cut,” the analyst tells investors in a research note. Barclays adds that the shares are trading at a discount to vertical software-as-a-service leaders.