Analyst Hail Ncino's Q2 Beat, See Up To 54% Upside

  • Ncino Inc's NCNO Q2 revenue of $66.5 million grew 36% year-on-year and beat the analyst consensus of $63.7 million. Adjusted EPS loss of $(0.02) beat the consensus loss of $(0.06).
  • The cloud-based software provider's Q3 revenue guidance of $66 million - $67 million is above the consensus of $65 million. The adjusted EPS loss guidance of $(0.07) - $(0.06) compares to consensus loss of $(0.06).
  • Piper Sandler analyst Brent Bracelin raised the price target to $97 from $95, implying a 53.8% upside, and reiterated an Overweight.
  • Bracelin hailed its journey "from humble roots helping a community bank as its first customer embrace cloud nearly a decade ago" and landing a transformational Bank OS deal with Wells Fargo.
  • Barclays analyst Saket Kalia raised the PT to $78 from $75, signifying a 23.7% upside, and maintained an Equal Weight. 
  • The RPO growth accelerated from wins in an enterprise, and the implied Q4 subscription guide shows about a point of acceleration to 27% year-over-year growth, which sets up well into FY23, Kalia notes.
  • Needham analyst Mayank Tandon affirmed a Buy and raised the PT from $80 to $85, indicating a 34.8% upside.
  • Price Action: NCNO shares traded higher by 15.9% at $73.09 in the market session on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: Analyst ColorEarningsLong IdeasNewsGuidancePrice TargetReiterationAnalyst RatingsMoversTechTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!