In a report released today, Mayank Tandon from Needham maintained a Buy rating on nCino (NCNO – Research Report), with a price target of $33.00.
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Mayank Tandon has given his Buy rating due to a combination of factors that highlight nCino’s promising growth trajectory. After attending the company’s user conference and analyst day, Tandon observed a strong competitive position for nCino, supported by its robust digital banking software solution that caters to commercial, consumer banking, and mortgage lending sectors.
Furthermore, the global serviceable addressable market for nCino’s offerings is estimated at nearly $20 billion, with significant room for expansion. The company’s recent preliminary results for the first quarter of fiscal year 2026 surpassed expectations, suggesting a strengthening near-term momentum and a potential acceleration in growth throughout the fiscal year. Consequently, Tandon has raised the price target for nCino to $33, reflecting confidence in the company’s ability to scale its operations globally.
According to TipRanks, Tandon is an analyst with an average return of -3.6% and a 38.10% success rate. Tandon covers the Technology sector, focusing on stocks such as Exlservice Holdings, WNS, and Globant SA.
In another report released yesterday, KBW also maintained a Buy rating on the stock with a $28.00 price target.