Morgan Stanley lowered the firm’s price target on nCino (NCNO) to $39 from $41 and keeps an Equal Weight rating on the shares. While the firm anticipated organic sub revenue weakness would afford a better entry point and would have liked to get constructive in advance of a Trump administration and NII inflection, shares are likely “in the penalty box” until the company can prove it can accelerate, the analyst tells investors in a research note. The firm added that it views acceleration as a requisite for multiple expansion.
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Read More on NCNO:
- nCino price target lowered to $42 from $46 at Scotiabank
- Morning Movers: Fiserv shares drop following CEO’s nomination to Trump’s cabinet
- nCino price target raised to $45 from $40 at Needham
- nCino downgraded to Neutral from Overweight at Piper Sandler
- nCino price target lowered to $42 from $43 at Baird
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
