nCino price target lowered to $39 from $41 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on nCino (NCNO) to $39 from $41 and keeps an Equal Weight rating on the shares. While the firm anticipated organic sub revenue weakness would afford a better entry point and would have liked to get constructive in advance of a Trump administration and NII inflection, shares are likely “in the penalty box” until the company can prove it can accelerate, the analyst tells investors in a research note. The firm added that it views acceleration as a requisite for multiple expansion.