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nCino Inc. (NASDAQ: NCNO): Slumped -11.63% In 2023, Outlook Stable

The trading price of nCino Inc. (NASDAQ:NCNO) closed higher on Tuesday, May 23, closing at $27.57, 0.47% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it fluctuated between $27.145 and $28.67. In examining the 52-week price action we see that the stock hit a 52-week high of $39.83 and a 52-week low of $19.58. Over the past month, the stock has gained 9.84% in value.

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nCino Inc., whose market valuation is $3.11 billion at the time of this writing, is expected to release its quarterly earnings report Sep 05, 2022 – Sep 09, 2022. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.05 per share this quarter, however they have predicted annual earnings per share of $0.37 for 2024 and $0.54 for 2025. It means analysts are expecting annual earnings per share growth of 285.00% this year and 45.90% next year.

Analysts have forecast the company to bring in revenue of $112.6 million for the current quarter, with the likely lows of $112.25 million and highs of $113.13 million. The average estimate suggests sales will likely up by 19.50% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $479.84 million. The company’s revenue is forecast to grow by 17.50% over what it did in 2024.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of nCino Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest NCNO has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently Hold.

A quick review shows that NCNO’s price is currently 16.38% off the SMA20 and 16.44% off the SMA50. The RSI metric on the 14-day chart is currently showing 67.45, and weekly volatility stands at 5.59%. When measured over the past 30 days, the indicator reaches 5.03%. nCino Inc. (NASDAQ:NCNO)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 1.20.

To see how nCino Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: NCNO stock’s performance was 0.47% in the latest trading, and -11.63% in the past year. Also in last trading session, the S&P 500 Index has plunged -1.12%, while the Dow Jones Industrial also saw a negative session, down -0.69% on the day.

An evaluation of the daily trading volume of nCino Inc. (NASDAQ:NCNO) indicates that the 3-month average is 870.32K. However, this figure has increased over the past 10 days to an average of 0.62 million.

Currently, records show that 111.16 million of the company’s shares remain outstanding. The insiders hold 2.00% of outstanding shares, whereas institutions hold 61.80%. The stats also highlight that short interest as of Apr 27, 2023, stood at 6.74 million shares, resulting in a short ratio of 8.36 at that time. From this, we can conclude that short interest is 6.03% of the company’s total outstanding shares. It is noteworthy that short shares in April were down slightly from the previous month’s figure, which was 6.78 million. However, since the stock’s price has seen 4.27% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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