nCino price target lowered to $28 from $45 at Needham

Needham lowered the firm’s price target on nCino (NCNO) to $28 from $45 but keeps a Buy rating on the shares. The company’s Q4 results were solid, with revenue and operating income coming in better than expected, but the Q1 and FY26 outlook was well below consensus, with weak guidance in part due to management taking a more conservative approach to guidance and FX headwinds and persistent mortgage challenges also contributing to the softer revenue outlook, the analyst tells investors in a research note. Needham adds however that the set-up is still favorable for long-term investors as nCino remains leveraged to the positive secular trends in the digital banking software market.