Bank of America Securities analyst Koji Ikeda reiterated a Hold rating on nCino (NCNO – Research Report) yesterday and set a price target of $26.00.
Koji Ikeda’s rating is based on a combination of factors that reflect both optimism and caution regarding nCino’s future performance. The analyst acknowledges the company’s potential to capture a significant share of the $19 billion financial institution market, especially after recent discussions with nCino’s CFO and investor relations team. However, the Hold rating is maintained due to the company’s recent soft outlook, suggesting that the risk and reward are currently balanced until nCino demonstrates consistent execution over several quarters.
Ikeda appreciates nCino’s growth strategy and its commitment to becoming a Rule-of-40 business, which indicates a focus on balancing growth and profitability. The company’s investment in international markets and strategic acquisitions are seen as positive steps towards long-term growth. Despite these promising strategies, the Hold rating reflects a cautious stance, awaiting further evidence of nCino’s ability to achieve its FY26 guidance and navigate potential demand volatility. The upcoming Investor Day is anticipated to provide more insights into the company’s plans for sustainable growth and profitability.
In another report released on April 8, Robert W. Baird also maintained a Hold rating on the stock with a $27.00 price target.
NCNO’s price has also changed moderately for the past six months – from $32.060 to $24.430, which is a -23.80% drop .