On Dec 06, major Wall Street analysts update their ratings for $nCino (NCNO.US)$, with price targets ranging from $43 to $45.
Barclays analyst Saket Kalia maintains with a hold rating, and maintains the target price at $44.
Needham analyst Mayank Tandon maintains with a buy rating, and adjusts the target price from $40 to $45.
Truist Financial analyst Terry Tillman maintains with a buy rating.
JMP Securities analyst Aaron Kimson maintains with a buy rating, and maintains the target price at $43.
KBW analyst Ryan Tomasello maintains with a buy rating, and adjusts the target price from $49 to $44.
Furthermore, according to the comprehensive report, the opinions of $nCino (NCNO.US)$'s main analysts recently are as follows:
While anticipating a period of organic subscription revenue weakness as an opportunity for a more favorable entry point, and showing interest in adopting a positive stance before potential policy shifts and net interest income inflection, it is suggested that the company's shares are likely 'in the penalty box' until it can demonstrate acceleration. It is viewed that this acceleration is necessary for multiple expansion.
nCino's Q3 results surpassed expectations due to strong subscription revenue growth and effective cost management. The company's sales execution continues to be impressive, evidenced by a 5.3% increase from Q2 and 19.4% year-over-year growth in its Remaining Performance Obligation, fueled by significant achievements in both U.S. and international markets. The challenges in the mortgage sector are seen as temporary, and the recent sell-off in nCino shares is regarded as excessive.
nCino demonstrated robust growth in Q3, although their forecast for Q4 fell short of expectations. The core US markets continue to show strength and there was significant deal activity internationally as expected; however, the mortgage sector is still a mitigating factor, with management recognizing increased churn and a more subdued Q4 recovery outlook as interest rates stay high.
Here are the latest investment ratings and price targets for $nCino (NCNO.US)$ from 5 analysts:
Note:
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