William Blair upgraded nCino Inc. (NASDAQ: NCNO) from Market Perform to Outperform, saying the company had made solid progress on strategic initiatives outlined during its May 2025 investor day and user conference.
The firm said nCino’s execution over recent months had strengthened confidence that it would achieve its fiscal 2026 target of 8%–9% organic annual contract value (ACV) growth, supporting at least high-single-digit subscription revenue growth in fiscal 2027.
William Blair added that the company’s decision earlier this year to reset expectations had positioned it for a more sustainable “beat-and-raise” performance pattern going forward. The upgrade reflected growing confidence in both near-term fundamentals and long-term growth visibility.
