JPMorgan lifts nCino price target to $17, maintains Neutral rating

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Summary · why it matters

JPMorgan raised its price target on nCino to $17 from $16 while keeping a Neutral rating, rolling forward valuation to December 2027. The firm expressed a constructive view on banking technology, arguing that AI-defensibility concerns are overstated given vendors' entrenched workflow, data, and compliance moats. JPMorgan highlighted Alkami as a high-conviction takeout candidate amid activist pressure and noted that its top ideas operate in a consolidated duopolistic digital banking market with strong retention and paths to free cash flow expansion.

Impact on assets 3

Cloud & Digital Infrastructure▲
nCino Inc
NCNO
▲ PositiveCapitalrelevance

JPMorgan raised price target to $17 from $16 and expressed constructive view on banking technology, directly benefiting nCino.

Alkami Technology Inc
ALKT
▲ PositiveCapitalrelevance

JPMorgan highlighted Alkami as a high-conviction takeout candidate amid activist pressure, implying potential upside.

Digital Finance & Tokenization▲