Macquarie notes nCino posted another solid print, kept its full year sub. revenue guide of 13%-15% year-over-year and raised its NG OM target by $1M. The firm believes the company is on pace for Rule of 50. nCino’s 4-6-year targets were set at its September 2023 Investor Day, as were the tools of the road, such as Platform pricing; International and Consumer Expansion; and Platform Adoption, helped by M&A and AI offerings, Macquarie notes. The firm reiterates an Outperform rating on the shares with a price target of $40.
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