nCino Inc. (NCNO) PT Raised to $32 at Truist on Higher Estimates

Truist Securities analyst Terry Tillman raised the price target on nCino Inc. (NASDAQ: NCNO) to $32.00 (from $27.00) while maintaining a Hold rating.

The analyst commented: "Growth Improvement Plans Solidly Underway; Maintain Hold Pending Definitive Reacceleration; 2Q results were positive with sub rev and profit upside. We believe the company is making progress against growth reacceleration initiatives, including expanding EMEA focus (signed first win in Spain), refocusing on credit union market (6 new wins and 35 expansions), crossselling mortgage (over 50 mortgage expansion deals), among others. Macro headwinds also appear to be abating. Organic sub rev growth accelerated 1 point to 10% y/y, however 2H comp dynamics likely keep lid on definitive reacceleration until FY27. Thus maintaining Hold with higher PT of $32 from $27 on higher estimates and terminal multiple assumption in our L-T DCF."

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