Keefe, Bruyette & Woods analyst Ryan Tomasello raised the price target on nCino Inc. (NASDAQ: NCNO) to $25.00 (from $24.00) while maintaining an Outperform rating.

The analyst commented: "CNO reported Non-GAAP operating income (OI) of $40.8mn vs. KBWe/consensus $37.4mn/$36.8mn ($35.5-37.5mn guidance). The beat to KBWe was driven by stronger subscription revenue growth (9.7% vs. KBWe/consensus 8.7%/8.2% and guidance of 7.3-8.8%) and lower expenses. Management raised its F'27 subscription revenue/non-GAAP OI guidance ranges to incorporate the 2Q beat. The company authorized a new $100mn share repurchase program."