nCino price target raised to $43 from $40 at Macquarie

Macquarie analyst Robert Trout raised the firm’s price target on nCino (NCNO) to $43 from $40 and keeps an Outperform rating on the shares. nCino posted another quarterly beat in Q3, with a non-GAAP operating margin above 20%, and as innovation ramps, Macquarie expects both accelerated margin growth and macro de-risking, the analyst tells investors in a research note. As the company increases its presence in end-to-end customer lifecycle management services, the firm sees lasting multiple expansion and further macro risk reduction, and would buy shares on any dips.