Stock Story -
Bank software company nCino (NASDAQ:NCNO) will be announcing earnings results tomorrow afternoon. Here’s what investors should know.
nCino beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $128.1 million, up 12.7% year on year. It was a weak quarter for the company, with a miss of analysts’ billings estimates and full-year revenue guidance missing analysts’ expectations.
Is nCino a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting nCino’s revenue to grow 11.8% year on year to $131.1 million, slowing from the 17.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.13 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. nCino has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.6% on average.
Looking at nCino’s peers in the vertical software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Q2 Holdings delivered year-on-year revenue growth of 11.8%, beating analysts’ expectations by 1.1%, and Olo reported revenues up 27.6%, topping estimates by 4.1%. Q2 Holdings traded up 3.8% following the results while Olo was also up 12.7%.
Read the full analysis of Q2 Holdings’s and Olo’s results on StockStory.
Investors in the vertical software segment have had steady hands going into earnings, with share prices flat over the last month. nCino is up 6.7% during the same time and is heading into earnings with an average analyst price target of $37.8 (compared to the current share price of $35.27).
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