nCino (NASDAQ:NCNO) jumped by more than 10% in pre-market trading after the company announced better-than-expected Q4 earnings. The cloud banking platform for the financial services industry reported adjusted earnings of $0.21 per diluted share, handily beating consensus estimates of $0.12 per share.
The company posted Q4 revenues of $123.7 million, a 13% increase year-over-year but fell short of Street estimates of $124.7 million.
Looking forward to Q1, NCNO expects revenues to range from $126 million to $127 million while adjusted earnings are likely to be between $0.13 and $0.14 per diluted share. In FY25, nCino has projected earnings in the range of $0.60 to $0.64 per diluted share on revenues between $538.5 million and $544.5 million.
In addition, the company announced that Josh Glover, President and Chief Revenue Officer will be leaving the company. After his departure, Paul Clarkson will be at the helm and will be nCino’s EVP, Global Revenue.
What is the Future Price of NCNO Stock?
Analysts remain cautiously optimistic about NCNO stock with a Moderate Buy consensus rating based on four Buys and two Holds. Over the past year, NCNO stock has gained by more than 30% and the average NCNO price target of $35.75 implies an upside potential of 18.5% at current levels.
