Raymond James analyst Alexander Sklar upgraded nCino to Outperform from Market Perform with a $38 price target. The company’s Q2 results were more “noise” than any change in fundamentals, the analyst tells investors in a research note. The firm believes nCino is one quarter closer to delivering on an organic accelerating growth story over the next couple of years, with high incremental margin and strong competitive positioning that should lead to multiple re-rating on execution.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NCNO:
- Macquarie remains bullish on nCino, says Q2 beat further validates path to ’50’
- Morning Movers: Department-store chains Kohl’s, Nordstrom rise after earnings
- Closing Bell Movers: Nordstrom up 8% on earnings beat, narrowed guidance
- nCino sees FY25 EPS 66c-69c, consensus 67c
- nCino sees Q3 EPS 15c-16c, consensus 16c