BofA analyst Koji Ikeda raised the firm’s price target on nCino (NCNO) to $28 from $26 and keeps a Neutral rating on the shares. The company preannounced fiscal Q1 results to “exceed top end of guidance,” which should “provide a sigh of relief” ahead of its earnings date next Wednesday, May 28, the analyst tells investors. While more constructive on execution potential and the potential for the financial services software vendor to be a share gainer after attending its conference and investor day, the firm believes the risk/reward is balanced until there are solid data points that recent execution issues are fully behind the business, the analyst added.
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- Balanced Risk/Reward Scenario for nCino: Hold Rating Maintained Amid Positive Outlook and Execution Concerns
- nCino price target raised to $26 from $19 at Scotiabank
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