Koji Ikeda, an analyst from Bank of America Securities, reiterated the Hold rating on nCino (NCNO – Research Report). The associated price target was raised to $28.00.
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Koji Ikeda’s rating is based on a combination of factors that suggest a balanced risk/reward scenario for nCino’s stock. After attending the company’s conference and investor day, Ikeda acknowledges the positive outlook and management’s upbeat presentations. The pre-announcement of results exceeding the top end of guidance provides some reassurance, indicating potential for improved execution. However, despite these positives, Ikeda remains cautious until there is more concrete evidence that past execution issues are fully resolved.
Furthermore, while the company’s technology and AI initiatives are well-received and show promise for future growth, there are uncertainties regarding the magnitude of revenue and profit beats, as well as the potential impact on future guidance. These factors contribute to the decision to maintain a Hold rating, as the market awaits further clarity from upcoming earnings announcements. The price objective has been slightly raised, reflecting reduced near-term risks, but overall, the recommendation remains neutral until more definitive data supports a stronger outlook.
According to TipRanks, Ikeda is a 5-star analyst with an average return of 12.5% and a 57.62% success rate. Ikeda covers the Technology sector, focusing on stocks such as Datadog, nCino, and Onestream, Inc. Class A.
In another report released yesterday, Scotiabank also maintained a Hold rating on the stock with a $26.00 price target.