Morgan Stanley lowered the firm’s price target on nCino (NCNO) to $39 from $41 and keeps an Equal Weight rating on the shares. While the firm anticipated organic sub revenue weakness would afford a better entry point and would have liked to get constructive in advance of a Trump administration and NII inflection, shares are likely “in the penalty box” until the company can prove it can accelerate, the analyst tells investors in a research note. The firm added that it views acceleration as a requisite for multiple expansion.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% 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>>
Read More on NCNO:
- nCino price target lowered to $42 from $46 at Scotiabank
- Morning Movers: Fiserv shares drop following CEO’s nomination to Trump’s cabinet
- nCino price target raised to $45 from $40 at Needham
- nCino downgraded to Neutral from Overweight at Piper Sandler
- nCino price target lowered to $42 from $43 at Baird