nCino price target raised to $36 from $29 at Baird

Baird raised the firm’s price target on nCino to $36 from $29 and keeps a Neutral rating on the shares. The firm attended its investor day and came with a number of constructive updates including long-term targets revised higher, maturation of platform beyond commercial lending is bearing fruit and yielding upside possibilities, and new platform pricing model introduced that ties fees to an institution’s assets instead of seats, aligning economics with value accrued by customers.