nCino Inc. (NCNO) PT Lowered to $28 at KBW; '-30% Sell Off Seems Overdone'

Keefe, Bruyette & Woods analyst Ryan Tomasello lowered the price target on nCino Inc. (NASDAQ: NCNO) to $28.00 (from $40.00) while maintaining an Outperform rating.

The analyst commented: "FY26 Guide Misses A Low Bar, but -30% AfterHours Sell Off Seems Overdone; NCNO's FY2026 revenue guidance disappointed expectations that were already low. That said, we view the stock's -30% after-hours move as an overreaction, with the shares trading at ~4x revenue/18x FCF (vs. peers' ~6x/30x) So, while NCNO has arguably become more of a turnaround story, we are inclined to be buyers at these levels, particularly in light of several sources of potential upside to what management appears to be telegraphing as a conservative guide. We also believe the margin expansion component of NCNO's story beyond this year is underappreciated. Reducing estimates and price target to $28 (from $40), but maintain Outperform."

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