nCino upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded nCino (NCNO) to Overweight from Equal Weight with a price target of $36, up from $35. The firm believes the cut in estimates provides an opportunity to own nCino. The company offers a “high-quality” vertical software business trading at a discount to private market values, the analyst tells investors in a research note. Morgan Stanley believes nCino’s pricing transition, improved product portfolio, and artificial intelligence strategy will drive a revenue acceleration.