nCino price target lowered to $38 from $42 at Piper Sandler

Piper Sandler lowered the firm’s price target on nCino to $38 from $42 on the assumption that medium-term growth could be tempered by the continuation of macro headwinds, while keeping an Overweight rating on the shares. The firm is encouraged by another quarter of solid execution and healthy start to 2025 driven by new product cross-sell that helped sustain double-digit top-line growth. While macro headwinds persist within the mortgage suite, stabilization within commercial and retail should position nCino to sustain low double-digit growth into the second half, Piper adds.