nCino price target raised to $34 from $27 at Stephens

Stephens raised the firm’s price target on nCino to $34 from $27 and keeps an Overweight rating on the shares following reports from Reuters that nCino has formed a special committee to evaluate interest. A deal is far from certain, but Stephens says that Insider Ownership, including a 35% stake from pre-IPO investor Insight Ventures remains elevated at 46%, and that financial and strategic buyers could generate synergies by cross-selling into nCino’s broad customer base.