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nCino (NCNO) Surges 6.7%: Is This an Indication of Further Gains?
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nCino (NCNO - Free Report) shares ended the last trading session 6.7% higher at $41.29. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 19.6% loss over the past four weeks.
The upswing in nCino’s share price can be attributed to its expanding clientele. nCino’s solutions are now being used by a number of banks and financial enterprises including Huntingdon Valley Bank, SmartBank and Arbuthnot Latham & Co. Ltd.
nCino initiative to expand internationally is noteworthy. The company has strengthened its presence in Europe by opening entities in Spain and France.
This company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of +10%. Revenues are expected to be $69.05 million, up 79.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For nCino, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NCNO going forward to see if this recent jump can turn into more strength down the road.
nCino is a member of the Zacks Internet - Software industry. One other stock in the same industry, AppFolio (APPF - Free Report) , finished the last trading session 1.1% higher at $110.61. APPF has returned -9.6% over the past month.
AppFolio's consensus EPS estimate for the upcoming report has changed -1100% over the past month to -$0.05. Compared to the company's year-ago EPS, this represents a change of -600%. AppFolio currently boasts a Zacks Rank of #5 (Strong Sell).
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nCino (NCNO) Surges 6.7%: Is This an Indication of Further Gains?
nCino (NCNO - Free Report) shares ended the last trading session 6.7% higher at $41.29. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 19.6% loss over the past four weeks.
The upswing in nCino’s share price can be attributed to its expanding clientele. nCino’s solutions are now being used by a number of banks and financial enterprises including Huntingdon Valley Bank, SmartBank and Arbuthnot Latham & Co. Ltd.
nCino initiative to expand internationally is noteworthy. The company has strengthened its presence in Europe by opening entities in Spain and France.
This company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of +10%. Revenues are expected to be $69.05 million, up 79.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For nCino, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NCNO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
nCino is a member of the Zacks Internet - Software industry. One other stock in the same industry, AppFolio (APPF - Free Report) , finished the last trading session 1.1% higher at $110.61. APPF has returned -9.6% over the past month.
AppFolio's consensus EPS estimate for the upcoming report has changed -1100% over the past month to -$0.05. Compared to the company's year-ago EPS, this represents a change of -600%. AppFolio currently boasts a Zacks Rank of #5 (Strong Sell).