Banking software company nCino (NASDAQ:NCNO) is scheduled to report earnings tomorrow afternoon. Here’s what investors need to know.
nCino topped analysts’ revenue expectations by 1.1% in the most recent quarter, posting $128.1 million in revenue, up 12.7% year over year. It was a weak quarter for the company, with a miss on analysts’ billings estimates and a full-year revenue forecast that missed analysts’ expectations.
Is nCino a buy or sell for profit? Read our full analysis here, it’s free.
Analysts expect nCino’s revenue to grow 11.8% year over year to $131.1 million this quarter, a slowdown from the 17.7% increase it posted in the year-ago quarter. Adjusted earnings are expected to come in at $0.13 per share.
Most analysts covering the company have reaffirmed their estimates over the past 30 days, expecting the company to maintain its current trajectory into earnings. nCino has missed Wall Street revenue estimates just once in the past two years, beating revenue estimates by 1.6% on average.
Looking at nCino’s peers in the software vertical, some have already reported their Q2 results, giving us a hint of what to expect. Q2 Holdings delivered 11.8% year-over-year revenue growth, beating analysts’ expectations by 1.1%, and Olo reported 27.6% revenue growth, beating estimates by 4.1%. Q2 Holdings was up 3.8% following the results, while Olo was also up 12.7%.
Read our full analysis of Q2 Holdings results here and Olo results here.
Investors in the software vertical have been taking earnings with a steady hand, with stock prices holding steady over the past month. nCino is up 6.7% over the same period and heads into earnings with an average analyst price target of $37.80 (compared to the current share price of $35.27).
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