nCino downgraded to Hold from Buy at Truist

Truist downgraded nCino (NCNO) to Hold from Buy with a price target of $21, down from $44. The company’s Q4 results were overshadowed “by a number of compounding headwinds” impacting guidance, including slower than expected customer expansion with consumer solutions, prior over-optimism on mortgage rebound expectations, and weaker than expected sales execution, particularly in Europe, the analyst tells investors in a research note. The firm believes the stock could remain a “show-me story” given management’s expectation for gross bookings not to accelerate until the second half of fiscal 2026.