Needham Reiterates Buy Rating on nCino Inc. (NCNO)

Needham analyst Mayank Tandon reiterated a Buy rating and $42.00 price target on nCino Inc. (NASDAQ: NCNO)

The analyst comments "NCNO kicked off FY25 on a positive note as 1Q results came in above Street expectations on both the top and bottom line due to subscription revenue growth of 13.4% Y/Y and successful cost efficiency efforts. While the 2Q outlook was a touch lighter than expected due to ongoing mortgage headwinds and delayed hiring from 1Q, management reaffirmed the FY25 revenue outlook and raised the profitability outlook to reflect increased cost efficiencies. We also highlight NCNO had the strongest 1Q gross sales in company history as it signed 15 new logos and grew a relationship with a $15B bank, which helped RPO growth accelerate to 17% Y/Y and 7% Q/Q as demand across the product portfolio improved. We believe this creates a favorable setup for MT/LT subscription revenue growth. We reiterate our BUY rating and $42 target."

For an analyst ratings summary and ratings history on nCino Inc. click here. For more ratings news on nCino Inc. click here.

Shares of nCino Inc. closed at $30.15 yesterday.

You May Also Be Interested In

• nCino Announces Timing of its Second Quarter Fiscal Year 2027 Financial Results Conference Call 
• Regeneron Pharma (REGN) PT Raised to $756 at Bernstein SocGen Group
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform