Bull of the Day: nCino (NCNO)

Market Overview - The market is showing signs of forming a short-term top, with major intraday reversals observed in many stocks and indexes [1] - Several stocks reached all-time highs but then broke down below weekly lows, indicating potential weakness in the bullish trend [1] Investment Strategy - Increased risk of downside action in the stock market suggests investors should focus on stocks with strong earnings trends [2] - Stocks with the strongest earnings are likely to recover the fastest once the downside action eases [2] Company Focus: nCino (NCNO) - nCino is a software-as-a-service company providing cloud-based software applications to financial institutions globally [3] - The company's nCino Bank Operating System integrates various financial services on a single cloud-based platform [3] Earnings and Growth - nCino has a Zacks Rank 1 (Strong Buy) in the Internet – Software industry, ranking in the Top 13% of Zacks Industry Rank [4] - Six analysts have increased earnings estimates for the current year, and four have done so for next year [4] - Zacks Consensus Estimates for the current year have risen from 67 cents to 72 cents, and next year's estimates have increased from 85 cents to 87 cents over the last sixty days [4] - Current year earnings growth is projected at 44%, with next year's growth at 21% [5] - Revenue growth forecasts are 13% for the current year and 14% for next year [5] - nCino's earnings growth outperforms the industry average of 25% and the S&P 500's 33% for the current year [5]