nCino price target raised to $38 from $35 at Stephens

Stephens raised the firm’s price target on nCino (NCNO) to $38 from $35 and keeps an Equal Weight rating on the shares. While the company’s fiscal year target of 50% net bookings growth was reiterated, the firm expects shares to come under pressure given uncertainty around the FY26 outlook and expectations for for 16%-17% organic growth, notes the analyst, who adds that the “long-term bull thesis remains intact” though uncertainty around mortgage and potential delays internationally present a near-term headwind to performance.