NCNO Stock Recent News

The year 2023 has been a massive time for the market's top tech stocks. The Nasdaq posted record gains for the first half of the year as investors came rushing into both the mega-cap tech titans and newer winners in fields such as artificial intelligence ( AI ).

Cloud provider nCino, which offers a Bank Operating System to manage key functions within banks, is reportedly up for sale or seeking a transaction, causing a 30% jump in share price. Despite strong revenue growth, concerns about nCino's bottom line and changing market conditions could result in a disappointing payout per share for common shareholders in any takeover deal. The company's ownership structure, with Insight Venture controlling 35% of the company, could also influence the terms of any deal, with a potential price range between $22 to $35 per share predicted.

Growth to decline from historical 30%-50% to 16%-17% in FY 2024 as NCNO faces slowdown across larger enterprise deals. Fundamentals are not exceptional but decent and improving. Downside risk remains moderate today, while the stock appears fully valued in my opinion. I rate the stock neutral.

Even some skyrocketing performers — up double digits — were not enough to boost the FinTech IPO Index. The pantheon lost 2.7%, despite rumors of deal-making, despite economic data that showed a surprising resilience in consumer spending.

Two banking software companies saw their stock rise Friday (June 16) after a report that one is considering a takeover offer. nCino's stock leaped 25% Friday, while that of one of its competitors, Q2 Holdings, rose 5%, Seeking Alpha reported Friday.

Adjusted earnings and revenue beat consensus estimates. The company also provided guidance for its full fiscal year of 2024.

nCino, Inc. (NASDAQ:NCNO ) Q1 2024 Earnings Conference Call May 31, 2023 4:30 PM ET Company Participants Harrison Masters - Investor Relations Pierre Naude - Chairman, Chief Executive Officer Greg Orenstein - Chief Financial Officer Josh Glover - President, Chief Revenue Officer Conference Call Participants Charles Nabhan - Stephens Nick Altmann - Scotiabank Terry Tillman - Truist Securities James Faucette - Morgan Stanley Robert Napoli - William Blair Kenneth Suchoski - Autonomous Research Jackson Ader - SVB MoffetNathanson Josh Beck - KeyBanc Operator Good day, and thank you for standing by. Welcome to nCino First Quarter Fiscal Year 2024 Financial Results Conference Call.

NCino (NCNO) came out with quarterly earnings of $0.07 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to loss of $0.06 per share a year ago.

Shares of cloud-software company nCino Inc. NCNO, which focuses on the financial sector, plunged more than 10% in after-hours trading Wednesday, after executives reduced their annual revenue forecast and guided for quarterly sales lower than Wall Street expected. The move follows a big downturn for Tenable Holdings Inc.

Keep an eye on companies that have witnessed solid earnings acceleration as of now, such as nCino (NCNO), Constellation Energy (CEG), Brookfield Renewable Partners (BEP) and Marathon Digital (MARA).