Ncino Inc Down 7.86% To $27.63 After Earnings Beat

Ncino Inc (NCNO) said after close Wednesday that it earned $0.14 per share in quarter three 2024. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $121.9 million, beating estimates by $1.3 million.

In the same quarter a year ago, the company lost $0.01 per share on revenue of $105.3 million.

The stock is down 7.86% to $27.63 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 57. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Ncino Inc is a provider of cloud-based software for financial institutions. Its software solution digitizes, automates, and streamlines inefficient and complex processes & workflow and utilizes data analytics & artificial intelligence that enables financial institutions to more effectively onboard new clients, make loans and manage the entire loan life cycle, open deposit, and other accounts and manage regulatory compliance. It also offers professional services, including configuration & implementation, training, and advisory services. Ncino generates the majority of its revenue from subscription services. The company caters to global financial institutions, enterprise banks, regional banks, community banks, and credit unions. The vast majority of its revenue comes from the United States.