No-code is exactly what it claims to be: a development approach for people with absolutely no coding experience. It goes beyond simply providing shortcuts, and instead uses declarative programming to build applications based on user inputs. In other words, no-code development allows you to skip coding entirely, telling the system what you need, and then allowing the system to build the application itself.
Like low-code, a no-code platform will likely also include pre-built functionality in the form of drag-and-drop tools and a highly-visual, user-friendly interface, but the major difference is that it allows users to build apps from start to finish, without ever having to implement a single line of code. No-code is all about the citizen developer being able to create simple but effective apps on their own to automate more of the business. No-code is about configuration over code.
Essentially, low-code targets developers, while no-code targets business users.