nCino Stock Dives 11% in After-Hours Trading after Q2 Earnings Report
Key Financial Highlights
- Revenue: $132.4 million, beating analyst estimates of $138.23 million.
- Earnings per share (EPS): $0.16, surpassing consensus estimates of $0.12.
Guidance and Outlook
- Q3 Revenue guidance: $140-$142 million.
- FY2024 Revenue guidance: $565-$575 million.
Analyst Commentary
"nCino's strong Q2 results demonstrate continued momentum for the company," said Mark Murphy, an analyst at Wells Fargo. "The company's cloud-based platform continues to gain traction in the financial services industry."
Stock Performance
nCino's stock price (NASDAQ: NCNO) fell 11% in after-hours trading on Tuesday, August 29, 2023, after the earnings announcement. The stock closed at $34.40 in regular trading.
About nCino
nCino is a provider of cloud-based software for the financial services industry. The company's platform includes solutions for loan origination, customer relationship management (CRM), and performance analytics.
Important Notes
- Information in this article is based on the company's earnings call transcript.
- Stock prices can fluctuate rapidly, and past performance is not indicative of future results.
- Investors should always conduct their own research before making any investment decisions.
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