Growth CatalystsUpgrade NCNO to Overweight as expectations are sufficiently low with clear catalysts for growth acceleration while still trading at a discount to private market value.
Revenue AccelerationThe company's pricing transition, improved product portfolio, and compelling AI strategy are key components of pending revenue acceleration.
Subscription RevenueThe FY26 subscription revenue guidance is raised by more than the F2Q beat which is a positive signal that execution and demand is improving.