BofA raised the firm’s price target on nCino (NCNO) to $26 from $22 and keeps a Neutral rating on the shares. After having recently hosted investor meetings with vertical software vender nCino’s CFO Greg Orenstein, the analyst came away more confident in the company’s potential to be a long-term share gainer in the $19B financial institution end-market total addressable market. While the firm ” liked what we heard,” it still believes the risk/reward could be balanced until several quarters of solid execution are posted given that nCino provided a soft outlook a week ago, BofA added.
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