nCino price target raised to $30 from $27 at Morgan Stanley

Morgan Stanley raised the firm’s price target on nCino to $30 from $27 and keeps an Equal Weight rating on the shares. The outlook given for FY25 and FY26 was below consensus estimates, but FY25 growth was better-than-feared compared to buyside estimates and investors are willing to look through a more measured pace of revenue reacceleration given “much more bullish” demand commentary and the company’s ongoing execution on profitability, the analyst tells investors in a post-earnings note.