Morgan Stanley downgraded nCino to Underweight from Equal Weight with an unchanged price target of $24. The company’s fiscal 2025 consensus estimates look too high when accounting for recent bookings performance and potential revenue headwinds from recent bank closures, the analyst tells investors in a research note. The firm says the stock is trading at a premium to the vertical software universe on numbers that are too high. It believes nCino’s investor day is unlikely to adequately dispel investor concerns.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on NCNO:
- Bendigo and Adelaide Bank selects nCino to transform its business banking
- The Nomura Trust & Banking Co., Ltd. Successfully Goes Live on the nCino Cloud Banking Platform
- nCino enhances Small Business Banking Solution
- nCino’s Cloud Banking Platform Streamlines Dodd-Frank 1071 Compliance Support for Financial Institutions
- Morgan Stanley still ‘holding breath,’ stays Equal Weight on nCino