NCino (NCNO) Q2 Earnings and Revenues Surpass Estimates

Company Performance - nCino reported quarterly earnings of $0.14 per share, exceeding the Zacks Consensus Estimate of $0.13 per share, and up from $0.09 per share a year ago, representing an earnings surprise of 7.69% [1] - The company posted revenues of $132.4 million for the quarter ended July 2024, surpassing the Zacks Consensus Estimate by 1.04%, compared to year-ago revenues of $117.24 million [2] - Over the last four quarters, nCino has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Stock Performance and Outlook - nCino shares have increased about 3% since the beginning of the year, while the S&P 500 has gained 17.8% [3] - The company's current consensus EPS estimate for the coming quarter is $0.16 on revenues of $138.23 million, and for the current fiscal year, it is $0.66 on revenues of $541.05 million [7] - The estimate revisions trend for nCino is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Internet - Software industry, to which nCino belongs, is currently in the top 39% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]