nCino price target lowered to $42 from $44 at Raymond James

Raymond James analyst Alexander Sklar lowered the firm’s price target on nCino (NCNO) to $42 from $44 and keeps an Outperform rating on the shares ahead of the Q4 results on April 1. The firm expects nCino to be one quarter closer to putting in a floor on organic growth and delivering on an accelerating growth profile over the next couple of years, the analyst tells investors in a research note. Raymond James believes nCino can begin to benefit from multiple expansion as it puts a bottom in organic growth with upside optionality should the mortgage market improve.