nCino Price Targets Slashed by JPMorgan, Barclays on AI and Sector Headwinds
JPMorgan cut nCino’s price target from $30 to $16 and held a Neutral rating after shares dropped nearly 47% over the last year on software sector headwinds and rising AI competition. Barclays lowered its target from $37 to $34 while maintaining an Overweight rating, citing mixed sentiment on AI pressures.
1. Analyst Price Target Reductions
In February, JPMorgan reduced nCino’s price target from $30 to $16, retaining a Neutral rating after reassessing its software group outlook. Barclays initiated the year by cutting its projection from $37 to $34 while upholding an Overweight rating, reflecting mixed Wall Street sentiment.
2. AI-driven Sector Challenges
Rising AI adoption is seen as a key threat to nCino’s cloud-based banking platform, with analysts warning that accelerated AI expansion could erode competitive advantages and compress long-term margins for software firms.
3. Shares Approach Year-Long Lows
Over the past 12 months, nCino’s share price has fallen nearly 47%, culminating in a new 52-week low in mid-February as broader software sector headwinds weigh on investor sentiment.